Analysis of Bitcoin (BTC) on November 16
Current market price and fluctuationsCurrent price: Bitcoin is currently priced at about $89,500. Yesterday's fluctuations: The daily K-line reached a high of $90,700 and a low of $87,000, fluctuating by more than 3,000 points, which was smaller than the 5,000-point fluctuations in the previous few days. 2. Technical indicators
Analysis of the daily K-line bullish trend: The current daily K-line bullish trend still exists, and the EMA15 trend fast line has been pulled up to 80,700 and continues to rise.
Support and pressure: It is blocked by the obvious support point of 87,000, and the K-line pulls back again to hit the upper rail pressure level of the Bollinger Band at 92,200. In addition, the four-hour K-line continuously stepped back on the EMA15 support of 88,600, and the next support point EMA30 is at 86,800.
MACD and KDJ: MACD volume decreases, DIF and DEA spread upward, but the overall trend has a correction. The KDJ dead cross trend remains unchanged, and the market is still in the overbought area.
Bollinger Bands: The four-hour Bollinger Bands shrink and go sideways at high levels. The upper rail pressure level refers to 92100, and the lower rail support focuses on 85800. 3. Market Forecast and Operation Suggestions
Short-term market: Consolidation occurs at high levels, forming a descending pennant. If the rebound does not break the previous high, the market may continue to follow the trend of triangle contraction. The short-term market is in a stalemate.
Operation Suggestions:
Short order trial: After the pressure level breaks through 91500, you can choose a short order trial, defend 92500, stop loss 500 points, target 90500 to 90000, and break 89500 to 89000.
Long order trial: You can also start to try long orders if you hold 86000 below, defend 85000 to 84500, stop loss 500 points, target 87500 to 88000, and break 89000 to 90000.
