In the cryptocurrency market, which trades 24/7, an astonishing rise has occurred, although at midnight today, it briefly dropped to $78,500. However, a large bullish candlestick followed, setting a new historical high at a price of $81,846. As of the time of writing, the price has pulled back to $81,750, with a 3.21% increase in the last 24 hours.

Bitcoin Daily Chart

First, looking at the Bollinger Bands indicator on the Bitcoin daily chart, the price has broken through the upper Bollinger Band and the market is operating above the Bollinger Bands, showing a strong breakout signal, but it also means that the market has entered an overbought state. At the same time, the three bands of the Bollinger Bands are in a spreading state, indicating increased volatility, which suggests that the market may experience a pullback or consolidation.

Secondly, looking at the KDJ indicator on the Bitcoin daily chart, the K-line value and D-line value are already in the high overbought area, and the J-line value is even higher than the overbought area of 100, indicating that the market is currently in an overbought state. Although the upward momentum is fierce, the overbought state may lead to a market pullback or consolidation.

Finally, looking at the MACD indicator on the Bitcoin daily chart, the DIF line maintains an upward trend above the DEA line, and the MACD red histogram continues to grow. This indicates that the current market has strong bullish momentum and is still in an upward trend, but caution should be taken against potential top divergence.

Bitcoin 4-Hour Chart

First, looking at the Bollinger Bands indicator on the Bitcoin 4H chart, the price has broken through the upper Bollinger Band, is located outside the upper band, and continues to rise, indicating that the market is in a strong upward trend. However, caution is needed regarding the adjustment risks brought by market overheating. The three bands of the Bollinger Bands are all in an opening state, indicating that market volatility will increase in the future.

Secondly, looking at the KDJ indicator on the Bitcoin 4H chart, the K-line value and D-line value are already in the overbought area, and the J-line value is also above the overbought area of 100, indicating that the market is in an overbought state. There may be a risk of a pullback in the short term, but in a strong upward trend, the KDJ may stay at a high level for a while.

Finally, looking at the MACD indicator on the Bitcoin 4H chart, the DIF line is operating above the DEA line and continues to rise. At the same time, the MACD red histogram is gradually growing, indicating that there is strong bullish momentum in the short term, and the market has further upward potential.

Comprehensive analysis shows that both KDJ and Bollinger Bands on the Bitcoin daily chart indicate that the market is in an overbought state, and prices may experience a short-term pullback or sideways consolidation. However, the growth of the MACD red histogram and the breakout of the upper Bollinger Band show that the bullish trend in the market remains strong, and the probability of being bullish in the medium term is still high. Looking at the Bitcoin 4H chart, the KDJ is in the overbought area, and the price is above the upper Bollinger Band. A slight pullback or consolidation may occur in the short term. However, if the pullback is not significant, it may provide support for further upward movement. The bullish trend is evident in the MACD, and if the red histogram continues to grow, the bullish trend in the medium term is expected to continue.

In summary, the author gives the following suggestions for reference (by the time of writing, the price has already broken through $82,000, approaching $82,300, and I don't even know how to give suggestions T_T).

Bitcoin pulled back to around $80,550, aggressively go long, stop loss below $80,000, and for take profit, take half at $82,000, and continue to watch for new highs.

A 100% accurate suggestion is not as good as giving you a correct mindset and trend. After all, giving a fish is not as good as teaching to fish. Suggestions may earn temporarily, but learning the mindset can earn a lifetime! What I focus on is the mindset, grasping the trend, and planning positions in the market. What I can do is use my practical experience to help everyone, guiding your investment decisions and business management in the right direction.

Writing time: (2024-11-11, 18:00)

This is to declare: There is a delay in online publishing, and the above suggestions are for reference only. The author is dedicated to research and analysis in investment areas such as Bitcoin, Ethereum, altcoins, foreign exchange, and stocks, has been involved in the financial market for many years, and possesses rich real trading experience. Investment carries risks, and caution is required when entering the market. For more real-time market analysis, please follow the important account for discussions and exchanges.#BTC突破8W2大关