Zhang Junyao: Analysis and Operation Suggestions on Bitcoin Market on November 8
After hitting a new historical high yesterday, BTC made a short correction. In the afternoon and evening, it pulled back to the support position near 74,500, and then continued to break upwards in the early morning of today to hit a new historical high. The highest price was around 76,800. The current price has pulled back to around 75,900.
For three consecutive days, BTC has been continuously hitting new historical highs, but we can also see from the current short-term market that although the historical highs have been broken continuously, the overall breakthrough amplitude compared with the previous highs is not very large. Under the current circumstances, there may be some hidden dangers, and there may also be a weak upward trend.
However, the correction today was not very deep, and the correction speed was not particularly fast. Overall, the price is still on an upward trend.
There is a possibility of continued pull-up in the evening, unless the price rises sharply and then falls sharply and fails to break through, or continues to make a deeper correction, we will consider that the price may fall back to the lower support position I mentioned just now, otherwise it is still bullish now.
If the direction is wrong, all efforts will be in vain. There is no wrong path, only wrong people. It is important to follow the right person.
