Coin Circle Liying: Bitcoin trend remains unchanged on November 16, when will the short-selling threat disappear? Latest market analysis
Article published on 2024.11.16—02:15
The current price of Bitcoin is 89560. The idea given in yesterday's article was that 85500 was not received, but 90500 was received. The target of 87000 was not reached. After falling below 88000, it rebounded and pulled back to take profits near 88800. The support was not broken but pulled back to break the moving average pressure level. However, the overall space is also 1700 points, which is also a good space compared to the intraday fluctuations.
Judging from the current price trend, the K-line pattern is fluctuating at a high level. A long upper shadow line appeared on the 13th, indicating that the upper selling pressure is relatively large. Yesterday and today, the K-line showed signs of rebound, but the overall level is still below the previous high. The technical indicators MACD, DIF and DEA are both negative, and the MACD histogram is gradually shortening, indicating that the short-selling momentum is weakening. Liying reminds everyone that the market is likely to form a golden cross again, and it is not ruled out that the big cake will hit a new historical high again.
The relative strength index RSI value fluctuates between 50-60, and has not entered the overbought or oversold range. The market sentiment is neutral to bullish. The trend indicator EMA price is currently above but close to EMA7, and EMA30 and EMA120 are far below the current price. The short-term trend is upward, and the medium- and long-term trends are still strong. Therefore, Liying’s idea is very simple to follow the trend. There is no need to think too much when trading. It is enough to follow the trend to choose the entry point. There is no obvious signal of volume expansion or contraction in the market. The main force has sold some of the chips in its hands after pulling up in the early stage, and it has stepped back to a relatively good support point. It is reasonable to stretch again to hit a new historical high.
Today's Liying point forecast
Go long at 88000, add more at 87000, stop at 86500, target 90000
Short point 91000, short at 92000, stop at 92500, target 89000
The above is a brief analysis of the current market conditions by Liying for investors' reference. In the past ten years, Liying has been exploring and experiencing hundreds of various digital assets. In this process, Liying has experienced the glory of the bull market and the bleakness of the bear market. She has accumulated countless valuable experiences and profound lessons along the way. As a female trader struggling in this challenging field, Liying feels a deep responsibility to share her own experience and insights, hoping to help other people with dreams find their place in this turbulent market and start their own journey to success.
The content of the article is real-time and for reference only. Risks are borne by the user.
