In the crypto circle, the author states: 11.19 is just waiting for the competition! Is Bitcoin entering a surge mode to refresh historical records? Latest market analysis.
Article published on 2024.11.19----08:40.
Bitcoin's current price is 90800. Congratulations to everyone for successfully bottoming out at 89000, and congratulations to everyone for successfully shorting at 92000. Both positions are relatively clear resistance and support points. Although the main strategy is to go long at lower prices, I took quick profits at 90000 for the short positions. However, combining both long and short gave a space of 5000 points, which is quite good to take profits.
Based on price trend analysis, the current K-line pattern fluctuates within the range of 90000 to 92000, forming a clear oscillating consolidation pattern. The author has noticed multiple long upper shadows on the daily K-line, indicating strong selling pressure above. In the technical indicator's 4-hour MACD cycle, DIF and DEA are close to the zero axis, and the MACD histogram has turned positive from negative, suggesting signs of a rebound in the short term. However, the overall trend remains unclear, so caution is needed when entering the market and not to rely on feelings.
The current Relative Strength Index (RSI) is between 50 and 60, not entering into overbought or oversold territory, indicating that the market is in a relatively balanced state. The balance point is where the monsters appear, which the author refers to as before the storm. The trend indicator EMA is currently above EMA7 but close to EMA30, while EMA120 is far below the current price. The long-term trend remains upward, but short-term adjustments may be under pressure, so there should be awareness of a potential pullback in the short term. Although the larger trend is bullish, the short-term view is for a correction. The entry point will be determined after the pullback, so it is better to wait for the direction to clarify before taking action.
Today's reference points:
Long entry at 90000, stop loss at 89000, stop loss at 88500, target at 92000.
Short entry at 92000, stop loss at 93000, stop loss at 93500, target at 90000.
The above analysis is based on market data and trend analysis from the order book, for reference only, and does not constitute investment advice. For family reference. Over ten years, the author has continuously explored and experienced hundreds of different digital assets. In this process, the author has experienced the glory of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons along the way. As a female trader striving in this challenging field, the author feels a responsibility to share insights and hopes to help others with dreams find their place in this unpredictable market and embark on their own journey to success.
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