Crypto Circle Scholar: On November 21, Bitcoin's main force shows clear bullish intentions, with future targets aiming for 100,000. Latest afternoon market analysis.
Current Bitcoin price is 97,450. It is now 1:15 PM Beijing time. I will update another article in the afternoon. At around 2 AM, Bitcoin did not break below 95,000. I placed a short position at 94,200, holding at 93,000 before rebounding and breaking through 95,000 again. At this time, we should realize how strong the main force's bullish intent has been. Therefore, after the short-term indicator tested EMA60 for the third time without breaking, I decisively exited at 94,000, and upon rebounding to the convergence point of the three lines at 94,300, I went long with a target of cashing out at the 97,000 mark, with an upper target of 99,000.
As of the time of writing, the daily K-line has already broken above 97,800, leaving 1,200 points until 99,000. The EMA15 fast line support has risen to 87,600 and is still moving up. The MACD has shown volume with a top divergence starting to accumulate, with the main force's trading volume increasing. The market greed index has broken above 90, and the upper Bollinger Band pressure point has reached 102,000. The middle band support should be watched at 83,000. Before reaching 99,000, one can observe whether there is a pullback. If so, wait for an effective support pullback to enter long positions in the trend, and remember to take precautions and set stop-losses.
The four-hour K-line formed a false short hammer line in the early morning. The short position at 94,200 did not exit at the support point of 93,000. The short-term indicators show a clear bearish trend, and the pullback is quite decisive. This wave of false shorts has served as a significant lesson for us; ultimately, we can only choose to exit small losses on the short position and follow the trend long. Currently, the MACD and KDJ, along with major indicators, are still moving up, with the Bollinger Band upper limit broken at 96,300. The overall trend is bullish, and if the neckline at 95,000 does not break during a pullback, one can enter before the significant 100,000 mark, but short positions can also be tested.
Short-term reference: The market is never 100% certain, so always set stop-losses; safety first, small losses with big gains are the goal.
Below, long positions from 95,000 to 95,500, with targets at 96,500 to 97,000; if broken, look at 97,500 to 98,000, with a stop-loss of 500 points.
Above, short positions from 99,000 to 99,500, with targets at 98,000 to 97,000; if broken, look at 96,000 to 95,000, with a stop-loss of 500 points.
Never have a sense of luck at any time; the essence of trading is survival, and second is profit.
I am a Crypto Circle Scholar, a warrior who has always protected the retail investors. I wish my fans financial freedom in 2024, and let’s work hard together!
