November 5 Market Observation: Rebound Battle After Bitcoin and Ether's Sharp Drop

Bitcoin has fallen hard this time, breaking through the 256-day moving average at 104,500 and temporarily breaching the psychological threshold of $100,000. The current focus is on whether it can regain and stay above 104,500—if it rebounds to this level and gets pushed down again, the situation changes, turning support into resistance, and further downside may be expected.

From the hourly chart, there are signs of a rebound in the short term, with the price breaking above the 5-day and 10-day moving averages. If you want to short, you can consider a light position near 104,000 during the rebound, with proper stop-loss settings.

Ether's situation is similar. Yesterday, a large bearish line caused it to drop directly to $3,050, which coincides with the dual support of the 256-day moving average and the weekly 60-day moving average. Keep an eye on the $3,400 level—if it stabilizes there, there’s room for further rebound; if it doesn’t hold, a retest of the $3,000 level is likely. The 10-day moving average on the 4-hour chart is also worth referencing.

Midday Strategy (Updated at 12:30):

#巨鲸动向 Trading idea: Short at 104,500, consider increasing short positions if it rebounds to 104,500, targeting 102,000 and the 100,000 level; aggressive long orders can be placed in parts after breaking below 100,000.

$BTC Trading idea: Short at 3,400, add to short positions if it rebounds to 3,500, targeting the 3,300/3,200 range; long orders can be considered near 3,060 or 3,000.

Risk Reminder: Strategies are for reference only. Be sure to control your Position size and set Stop-Losses. $SOL