As a senior person in the cryptocurrency circle, I have been deeply engaged in this fascinating and challenging field for many years. I have experienced the ups and downs of the cryptocurrency market, witnessed the rise and fall of countless currencies, and accumulated rich practical experience and unique market insights. Investment is a long-term practice, and the cryptocurrency market is even more so. Continuous learning and improvement of one's cognition and judgment ability are essential for steady progress in this challenging field.
Coin Circle Lao Yang: Bitcoin market analysis on November 21, 2024
Recently, the daily candlestick chart shows an overall trend divergence, and key indicators have issued warnings. The EMA12 trend line has dropped to 88900, and the EMA26 has broken through 82000, indicating increased downward pressure on the market. The MACD top divergence remains unchanged, with DIF and DEA expanding and contracting at high levels, suggesting a lack of upward momentum. The upper Bollinger band has exceeded 100000, with the middle band at 82500, showing a narrowing price range. The KDJ presents a state of extreme contraction, with the long-short battle entering a stalemate.
The four-hour line of Bitcoin shows an intermingling of bullish and bearish trends, with 92000 and 91300 becoming key support points for pullbacks. The M shape is questionable and needs time for verification. The MACD top divergence continues with narrowing volume, indicating that the bullish advantage is gradually weakening as DIF and DEA are on the 0 axis. On the operational level, if the pressure level is effective, short positions can be cautiously tested.
Short-term strategy:
Sell from 94000 to 94700, add positions at 95200, stop loss at 500 points, target at 91500.
Buy from 89800 to 89200, add positions at 88700, stop loss at 500 points, target at 92500.
Disclaimer: The above analysis only represents the author's personal opinion and does not constitute specific operational advice. Trading based on this is at your own risk. Investment carries risks, and caution is required when entering the market.
The content of this article is exclusively planned and published by Coin Circle Lao Yang. If you need to learn more about real-time investment strategies, spot contract trading methods, operational skills, and other knowledge, you can consult the author for learning and communication. Focusing on BTC, ETH, and altcoin spot contracts for many years, I hope to help you achieve brilliant results!
Warm reminder: The above content is solely created by the author of the public account. The advertisements at the end of the article and in the comments section are unrelated to the author. Please discern carefully. Thank you for reading.
