Li Ying from the cryptocurrency circle: Bitcoin fights back from the bears on 11.27, is the rebound demand imminent? Latest market analysis
Article published on 2024.11.27—01:30
Current Bitcoin price 93750, let's review yesterday's results first. Yesterday's market did not hold at 96000, leading to a sharp drop. Finally, it lost the key support at 93000, and I took a short position accordingly. After breaking below 92000, I took profit. The trading record has been updated for everyone to refer to. As for the reversal long at 91500, the first target is 95000 to see if it can break, and then decide whether to take profit. The bullish trend is still holding the trend support at 91500, which indicates that the larger trend has not broken yet. The short position cannot be counted as a bearish attack, so the main thinking is to go long, and there should definitely be a larger space. Although there is currently a 2000-point profit to take, Li Ying believes there is no rush to continue looking up.
Looking at the upcoming analysis, Li Ying is still analyzing from the price trend. Everyone can also observe the significant oscillating downward trend in the current K-line pattern. After two days of significant retracement, the price is currently fluctuating in the range of 93000 to 95000. The main force has taken profits, and the market has digested it almost. The large-level support has been reached. The bottom line for bulls is at the 90000 mark. In the 4-hour cycle, several long upper shadow lines have appeared, indicating heavy selling pressure above, and the market sentiment is bearish. As long as the large-level neckline does not break, Li Ying will firmly position long orders at the key points, and remember to set stop losses.
Technical indicators MACD show a short-term bearish strength advantage, the short position has not ended, and there is still a possibility of further bottom testing. However, from the overall trend perspective, 91500 is currently a very good entry point, so there is no need to rush. The relative strength indicator RSI is currently at 41.9, close to the oversold area, but has not yet entered an extreme oversold state. There will be a rebound demand in the short term, so Li Ying suggests waiting for the rebound to assess the strength before deciding. The trend indicator price is hovering near EMA7, with EMA30 and EMA120 forming pressure and support bands. The short-term trend is constrained by the pressure from EMA30. Li Ying's thinking is that the market has a high probability of consolidating above 90000, with a range forming pressure at 95000. The strategy can be to short on highs and long on lows.
Today's Li Ying point prediction
Long point 92000, add long at 91000, stop at 90500, target 95000
Short point 95000, add short at 96000, stop at 96500, target 92000
The above is a brief analysis by Li Ying on the current market situation for investors' reference. Over the past ten years, Li Ying has continuously explored and experienced hundreds of different digital assets. During this process, Li Ying has experienced the brilliance of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons through numerous ups and downs. As a female trader striving in this challenging field, Li Ying feels a responsibility to share her insights and hopes to assist others with dreams to find their place in this unpredictable market and embark on their own successful journey.
The content of the article is timely and for reference only, risks are to be borne by oneself
