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Cryptocurrency Academy: 2024.11.21 Bitcoin (BTC) afternoon latest market analysis.
The current price of Bitcoin is 97450. It is now 1:15 PM Beijing time. I will update another article in the afternoon. At around 2 AM, Bitcoin did not break 95000. A short position was set at 94200, maintaining the 93000 level, and then it pulled back and broke through 95000. At this point, one should realize how strong the main force's bullish intent has been. Therefore, after the short-term indicator's third pullback to EMA60 without breaking, I decisively exited at 94000. A pullback reached the convergence point of the three lines at 94300, and I went long, targeting the 97000 level to take profit, with an upper target of 99000.
As of the time of writing, the daily K-line has already broken 97800, with only 1200 points remaining to 99000. The EMA15 fast line support has reached 87600 and is still pulling up. MACD shows a volume increase with a top divergence starting to accumulate. The main force's trading volume is increasing, and the market greed index has broken the 90 mark. The upper Bollinger Band resistance has reached 102000, with the middle band support at 83000. Before reaching 99000, one can observe if there is a pullback in the market. If so, wait for an effective pullback support to continue entering long positions and remember to set stop-losses.
The four-hour K-line formed a false short hammer line in the early morning. The short position at 94200 held at the 93000 support point without exiting. The short-term indicators show a very clear bearish trend. The pullback was also very decisive. This wave of false short indicators is quite a lesson for us. In the end, we can only choose to exit the short position with a small loss and go with the trend. Currently, MACD and KDJ and various indicators are pulling up. The upper Bollinger Band at 96300 is broken, indicating an overall bullish trend. The idea is to enter long if the neckline at 95000 holds; before the 100000 threshold, you can also try short positions.
Short-term reference: The market is not 100% certain, so it is crucial to set stop-losses. Safety comes first; small losses with big gains are the goal.
Long from 95000 to 95500 below, target looking at 96500 to 97000, if broken, look at 97500 to 98000, stop-loss 500 points.
Short from 99000 to 99500 above, target looking at 98000 to 97000, if broken, look at 96000 to 95000, stop-loss 500 points.
Specific operations should be based on real-time market data. More information can be obtained by consulting the author. There is a delay in article publication; suggestions are for reference only and risks are to be borne by the reader.
This article is exclusively contributed by the Cryptocurrency Academy, representing the academy's unique viewpoint. In-depth research has been conducted on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of article publication, the above viewpoints and suggestions are not real-time and are for reference only. Risks are to be borne by the reader. Please indicate the source if reprinted. Manage your positions reasonably; avoid heavy or full positions. The academy also hopes that all investors understand that the market is always right. If you are wrong, you should reflect on your own issues. Don't let the profits that should belong to you slip away. There is no need to be smarter than the market in investments. When the trend comes, respond accordingly; when there is no trend, observe and be calm. It is not too late to act once the trend becomes clear. Tomorrow's success comes from today's choices. The way of heaven rewards diligence, the way of earth rewards goodness, the way of man rewards honesty, the way of commerce rewards trust, the way of industry rewards precision, the way of art rewards heart. Gains and losses are often unnoticed. Develop a habit of strictly setting stop-losses and take-profits with every trade. The Cryptocurrency Academy wishes you happy investing!
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