Academician of currency circle: Can the rebound of Bitcoin on November 16 break through the previous high? The short-term market is in a stalemate!
The current price of Bitcoin is 89,500. It is 3:25 am Beijing time. Let's review it first. Yesterday, the market was consolidating. The highest daily K-line was 90,700 and the lowest was 87,000. The fluctuation was more than 3,000 points. For the fluctuation of more than 5,000 points in the past few days, it was considered a shrinkage. The market was consolidating at a high level, forming a descending pennant. If the rebound does not break the previous high, the market will continue to follow the trend of triangle contraction.
At present, the daily K-line bullish trend is still there, and the EMA15 trend fast line has reached 8070 0 is still pulling up further, the K-line has not yet shown a deep retracement, blocked by the obvious support point of 87000, MACD volume decreases, DIF and DEA spread upward, K-line pulls back again to hit the upper rail pressure level of Bollinger Band 92200, KDJ dead cross trend remains unchanged, the market is still in the overbought area, the overall trend has a correction,
The four-hour K-line continuously retraced to EMA15 support 88600, the next support point EMA30 is at 86800, MACD top divergence rebounds with shrinking volume, DIF and DEA spread downward The trend is blocked, pay attention to the trend pressure level 91500 and the support point 86500. The Bollinger Bands shrink and go sideways at high levels. The upper rail pressure level is 92100, and the lower rail support is 85800. At present, the market is obviously pulling up, so you can wait for the pressure level to break through 91500 before choosing a short position. If you hold 86000 below, you can also start to try long positions.
Reference for intraday short-term ideas: The market is not 100%, so you must set a good stop loss. Safety first, small losses and big profits are the goal.
Above 9150 0 to 92000 short, 92500 short defense, stop loss 500 points, target 90500 to 90000, break 89500 to 89000
Below 86000 to 85500 long, 85000 to 84500 long defense, stop loss 500 points, target 87500 to 88000, break 89000 to 90000
I am a currency circle academician, a warrior who has been protecting leeks. I wish my fans to achieve financial freedom in 2024. Come on!