Coin Circle Liying: Clear upward trend on December 16! Bitcoin bulls are fully back, and the future market is promising! Latest market analysis
Article published on 2024.12.16 at 01:20
Current price of Bitcoin is 103100, Liying's real-time data yesterday was 102000, and finally closed at 101000 for profit, which is real. The article mentioned this point at the beginning, making 1000 points is enough; short positions cannot be held for long, only rapid entry and exit is possible. Unlike long positions, once the entry point is selected, there's no rush to exit because the larger trend belongs to the bulls, but the main force has been slow to stretch, just absorbing positions. Do not rush; patience is needed to hold now, just follow the main force and act accordingly. Let's look at the current market situation.
Liying will still explain from the candlestick patterns; it is currently in a clear upward trend, especially the strong bullish candles on the 15th and 16th. In the 4-hour cycle, there have been multiple long lower shadows, indicating strong buying support at low levels. Looking at the MACD technical indicator, the current DIF is above the DEA, and the MACD histogram continues to stay in the positive area, indicating strong bullish momentum.
The relative strength index (RSI) is currently at 66.8, close to the overbought zone, but has not yet entered an extreme overbought state, still having some room for upward movement. The EMA trend indicator price has broken through EMA7, EMA30, and EMA120, with short-term moving averages diverging upwards, supporting a continued bullish outlook, further validating Liying's consistent bullish trend. Focus on going long, along with trading volume increasing with rising prices, shows active capital inflow, maintaining overall activity. Therefore, there’s no doubt about whether the bullish trend is still there, just decide if you will follow.
Today's Liying point prediction
Long entry point 102000, add long at 101000, stop at 100500, target 104000.
Short entry point 104000, add short at 105000, stop at 105500, target 100500.
The above is Liying's brief analysis of the current market situation for investor reference $BTC