Cryptocurrency Li Ying: The bulls are not dead at 12.1! The rebound after Bitcoin's deep pullback will surprise you! Latest market analysis
Article release time 2024.12.1—01:35
Current price of Bitcoin is 96850. Did everyone pay attention to the entry idea of 96000 that Li Ying provided yesterday? Congratulations to those who followed along, and for those who didn't, remember to follow Li Ying! The major trend remains unchanged, Bitcoin will not give up on challenging the 100,000 mark. The deeper the pullback, the stronger the rebound will be, so do not doubt whether Bitcoin can break 100,000, but rather how much space we can capture before it breaks.
Li Ying is still analyzing from the price trend perspective. Currently, the K-line formation around 97000 is oscillating, forming a relatively high consolidation area. A long upper shadow line appeared on the daily K-line, indicating strong resistance above. In the technical indicator MACD on the 4-hour cycle, both DIF and DEA are positive and gradually flattening, with the MACD histogram shortening, indicating that bullish momentum is weakening and may enter an adjustment phase. Regardless of how it adjusts, do not exit fully; leave a portion of your long position as a base, especially for those who entered at the 90000 mark, do not rush to exit completely.
The current Relative Strength Index (RSI) is around 55, which is in a neutral to strong range but has not entered an overbought state, indicating that the market still has some upward space but needs caution. The trend indicator EMA is currently above EMA7, and EMA30 and EMA120 show a bullish arrangement, overall trend is still upward, but there may be adjustment pressure in the short term. The trading volume has increased in the past few trading days, especially after the large bullish candle on the 29th, indicating increased funding activity. What we need to do is to look for opportunities to enter during the pullback.
Today's Li Ying point prediction
Long entry point 96000, add long at 95000, stop at 94500, target at 98000
Short entry point 98000, add short at 99000, stop at 99500, target at 95500
The above is a brief analysis by Li Ying regarding the current market situation, for investors' reference.