Li Ying in the crypto circle: 11.24 Bitcoin short-squeeze crisis, patience is gold, an excellent opportunity at the pullback support point! Latest market analysis
Article published on 2024.11.24—01:40
The current price of Bitcoin is 98000. Yesterday, the market consolidated at a high level all day without a suitable entry point. Li Ying chose to wait patiently and decided to enter before the publication at the short-term trend's pullback support point of 97700. The short-term resistance point above is at 98400 as the first target. If it does not break, one can exit; if it breaks, one can continue to look upward. Remember that under the condition that the large trend does not change, all pullbacks are bait for short positions. What we need to do is manage stop-losses well and be cautious when entering at the support points.
Looking at the price trend, everyone can see that the K-line pattern mentioned by Li Ying has been oscillating at a high level, with multiple long upper shadow K-lines appearing, indicating heavy selling pressure above. This is a normal behavior of raising prices to unload. After the main force takes profits at 99500, there will inevitably be a pullback. From the daily level, a clear pullback trend formed between the 21st and 23rd, with high points gradually decreasing. The technical indicator MACD's 4-hour fast and slow lines continue to decline, and the green bars are expanding, indicating that the bearish strength is increasing in the short term. The main force taking profits and testing the support at 97500 has caused a rebound.
The Relative Strength Index (RSI) has fallen from the overbought zone and is currently in a neutral area, but there is a continued downward trend. The trend indicator EMA has the current price falling below EMA7 and approaching EMA30. If it cannot effectively support, it may further test EMA120. The trading volume on the 22nd and 23rd has significantly increased, especially during the pullback process after the surge on the 21st, indicating that market divergence has intensified. In recent trading sessions, trading volume has decreased, and a reduction in trading volume will also be digested over time. The large-scale trend has not changed, and the idea of buying on pullbacks will not change.
Today's Li Ying point prediction
Long entry at 96000, add long at 94500, stop at 94000, target at 99000
Short entry at 99,000, add short at 100,000, stop at 101,500, target at 98,000
The above is a brief analysis of the current market situation by Li Ying for investors' reference. Over the past ten years, Li Ying has continuously explored and experienced hundreds of different digital assets. In this process, Li Ying has undergone the brilliance of bull markets and the gloom of bear markets, accumulating countless precious experiences and profound lessons along the way. As a female trader striving in this challenging field, Li Ying feels a strong responsibility to share her insights and hopes to help others with dreams find their position in this unpredictable market and embark on their own successful journey.
The content of the article is real-time and for reference only, risks are to be borne by oneself
