As a seasoned individual in the cryptocurrency circle, I have been deeply engaged in this attractive and challenging field for many years. Having experienced multiple ups and downs in the cryptocurrency market and witnessed the rise and fall of countless currencies, I have accumulated rich practical experience and unique market insights. Investment is a long-term practice, and the cryptocurrency market is no exception. Continuous learning and improving one’s cognitive and judgment abilities are essential to progress steadily in this challenging field.
Coin Circle's Lao Yang: Bitcoin market analysis for November 28, 2024
Bitcoin's recent trend has garnered much attention. The daily chart shows its price fluctuation range between 90000 and 97000, with support received twice at the EMA12 trend support level of 93500 before stretching upward. In terms of technical indicators, the MACD shows a decreasing volume trend, with DIF and DEA at high levels and moving in a bearish direction. The Bollinger Bands are gradually contracting, with the upper pressure level at 103000 and the middle support at 91300. The large-level span is nearly 10000 points, and the KDJ starts to contract after facing resistance in downward diffusion. The overall trend is in a top divergence contraction phase, making it very likely for a sharp upward spike to occur. In light of this, investors may consider setting short orders above 100000. However, the current market sentiment remains predominantly bullish, so caution is needed when weighing long and short forces, keeping a close eye on subsequent market changes.
Bitcoin's four-hour chart has returned to the high levels of the EMA trend indicator, with a high point at 98000, and a defensive level can be set at 99000. The MACD is currently showing an increase in volume, with a golden cross between DIF and DEA. The upper pressure of the Bollinger Bands stands at 99000, and KDJ is approaching overbought territory in upward diffusion. Unless in extreme market conditions, bulls still dominate, so the operational approach should be to go long on pullbacks to support, as the large level shows a bullish trend. In the short term, long positions can be taken based on support points.
Short-term strategy:
Short positions from 97800 to 99000, add positions at 99700, stop loss at 500, target at 96500.
Long positions from 94500 to 95000, add positions at 93800, stop loss at 500 points, target at 96500.
Disclaimer: The above analysis only represents the author's personal opinion and does not constitute specific operational advice. Any operations based on this information are at your own risk. Investment involves risks, and caution is required when entering the market.
This content is exclusively planned and published by Coin Circle's Lao Yang. For more real-time investment strategies, spot contract trading methods, operational skills, and other knowledge, please consult the author for learning and communication. Focused on BTC, ETH, and altcoin spot contracts for many years, hoping to help you achieve brilliant results!
Friendly reminder: The above content is solely created by the author’s official account. Advertisements at the end of the article and in the comment area are unrelated to the author. Please discern carefully, and thank you for reading.
