🚀 Gate Square “Gate Fun Token Challenge” is Live!
Create tokens, engage, and earn — including trading fee rebates, graduation bonuses, and a $1,000 prize pool!
Join Now 👉 https://www.gate.com/campaigns/3145
💡 How to Participate:
1️⃣ Create Tokens: One-click token launch in [Square - Post]. Promote, grow your community, and earn rewards.
2️⃣ Engage: Post, like, comment, and share in token community to earn!
📦 Rewards Overview:
Creator Graduation Bonus: 50 GT
Trading Fee Rebate: The more trades, the more you earn
Token Creator Pool: Up to $50 USDT per user + $5 USDT for the first 50 launche
November 1st, Wednesday evening trading ideas
Currently, Bitcoin is around the middle band of the Bollinger Bands at approximately 105023. The bands are widening, indicating increased volatility.
The KDJ indicator shows K49/D65/J17, with the J line nearly flat, suggesting a clear downward pressure in the short term; MACD has also formed a death cross, with the line below DEA heading downward, indicating stronger bearish sentiment. The Alligator indicator looks like it's consolidating, and a large sell order of 3.2 billion USDT has just appeared, adding significant selling pressure.
Trading Ideas
Short-term: Those looking to short can wait for a rebound to the upper Bollinger Band around 107600 or between 106000-107000 resistance levels before entering. Place stop-loss above the recent high at 107400. Take profit initially at the middle band at 104023, with a target of 100800 at the lower band if possible.
Long-term: Holders who are confident should not rush. Currently, observe and wait for the price to stabilize above the middle band, and for MACD/KDJ to turn bullish before considering adding positions. Support levels to watch are 104023, the previous low at 98888, and the lower band at 100800.
Key points: Be sure to control your stop-loss and position sizes; avoid being stubborn.