📣 Bitcoin experienced another significant pullback in the evening. Is the bull market over or is it a retail investor cleanup for a power-up! 📈
In the evening, Bitcoin faced another wave of significant pullback, dropping from 98871 to a low of 94525, a pullback of four thousand points. This pullback is also a normal tactic by the market makers to create panic among investors, while also laying a solid foundation for Bitcoin to break through the 100,000 USD mark. From the current trend, Bitcoin has attempted to break through 100,000 multiple times without success. This pullback is both a power-up and a market cleanup! The future trend still looks bullish!
【Analysis of Bitcoin Price Trend from Four-Hour Chart】
K-Line Pattern:
Recent K-lines show high-level fluctuations, with prices oscillating between 98000 and 99000, making multiple attempts to break through without success. The recent few four-hour K-lines exhibit long upper shadows, indicating heavy selling pressure above.
Technical Indicators:
MACD: Currently, both DIF and DEA are negative, and the MACD histogram is below the zero line, indicating that bearish forces dominate, but there are signs of convergence, which may lead to a rebound.
RSI: The RSI has retreated from the overbought zone and is currently close to a neutral level of 45.4, which may continue to adjust in the short term.
EMA: EMA7 (97437.6) has fallen below EMA30 (96844.5) and is approaching EMA120 (88870.9), showing a weak short-term trend, and attention should be paid to the support role of EMA30.
Trading Volume:
Recent trading volume has increased, especially during price declines, indicating a bearish market sentiment. Near key points, such as around 96000, trading volume has increased, showing fierce competition between bulls and bears.
Evening of 11/25 Bitcoin steady short-term profit layout
It is recommended to enter long positions lightly around 95000 for Bitcoin, with short-term profit points: 95800-96000. The next target for Bitcoin is above 100,000 USD!
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