Current Market Situation
Current price of Bitcoin: $93,852
Daily K-line high: $95,000
Daily K-line low: $90,886
Technical Indicator Analysis
EMA Trend:
Bitcoin retraced to the EMA15 trend support point yesterday, marking the first time since the deviation from the EMA trend indicator on November 6.
The overall EMA trend is still bullish, but there is short-term correction pressure.
Golden Ratio:
The 0.236 support reference point is $87,500. If Bitcoin falls below this price, it may trigger larger-scale liquidations.
MACD:
MACD top divergence begins to shrink, with DIF and DEA forming a dead cross trend at high levels, indicating a need for a market correction in the short term.
Bollinger Bands:
The Bollinger Bands have shown a contraction trend, with the mid-line support reference at $89,500.
In the four-hour K-line, the lower Bollinger Band has fallen below $91,600 and is beginning to spread downward.
KDJ:
The KDJ indicator is spreading downward, indicating short-term downward momentum in the market.
Other Technical Indicators:
The four-hour K-line has reached the intersection point of the triangle flag support line and EMA90 above $91,500, with the next support point focusing on $89,500.
The short-term level is about to enter the oversold area, and there may be a rebound opportunity after extreme overselling occurs.
Trading Strategy Suggestions
Aggressive:
Consider shorting in the range of $94,500 to $95,000, but be sure to set a stop loss, defending between $95,500 to $96,000, with a stop loss of 500 points.
The target is initially set at $93,500 to $93,000, and if broken, look for $92,000.
Conservative:
Wait for Bitcoin to test the $90,000 mark before looking for opportunities to position.
Consider defending in the range of $90,500 to $90,000 below, with a stop loss set at $89,500 to $88,000, stop loss of 500 points.
The target is initially set at $91,500 to $92,000, and if broken, look for higher price levels.
Risk Warning
Market conditions change rapidly, technical indicators can only serve as references and should not be the sole basis for trading.
Manage risks well, set stop losses, and avoid going head-to-head with the market.
During the trading process, it is important to remain calm and not make impulsive decisions due to temporary fluctuations.
Bitcoin is currently in a correction phase, but the long-term bullish trend remains unchanged. Choose suitable entry timing and stop loss points based on your own risk tolerance and trading strategy.
I am V God: I hope all fans can achieve financial freedom in the circle. In investing, learn to control emotions optimistically. Manage your position reasonably! Never operate with a full position or heavy investment. Let's move forward together and cheer each other on! That's all for today, thank you for your support!
Responses may be delayed, strategy suggestions are for reference only, market conditions change rapidly, regardless of how accurate your market judgment is, always set take profit and stop loss to secure gains.
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