Cryptocurrency Li Ying: The Path to 100,000 for Bitcoin on December 26 is Fraught with Challenges. How to Break the Deadlock?
Article published on 2024.12.26—01:30 AM
Current Bitcoin price is 98,300. Li Ying mentioned yesterday that there is momentum for the main force to push towards 100,000. After two failed attempts to break 100,000 before the article was published, the price has been consolidating at a high level, with a low of 97,000 and a high of 99,500, giving a trading range of over 2,000 points. Li Ying also entered at 97,500 and took profits at 99,000 for a gain of 1,500 points. After the next pullback to 97,000, Li Ying will choose to enter again.
Li Ying is still analyzing from a price trend perspective. The current K-line pattern is fluctuating around 98,000, showing significant volatility with multiple long upper and lower shadows, indicating a large market divergence. The technical indicator MACD has some upward momentum in the short term, but caution is needed for divergence risks. Whether going long or short, it’s essential to manage risks well.
The Relative Strength Index (RSI) 14 currently stands at 55.2, in the neutral zone, not entering overbought or oversold territory, indicating that there are no clear extreme emotions in the market temporarily. The trend indicator EMA7 is below the latest price, EMA30 is also below the latest price, and EMA120 is slightly above the latest price. From an overall perspective, Li Ying sees strong short-term moving average support, but long-term moving averages still act as resistance. Increased trading volume indicates greater market activity, but the main force continues to struggle below 100,000. There is a renewed tug-of-war between bulls and bears, allowing for potential swings. The conventional strategy is to short on highs and go long on lows.
Today's Li Ying price prediction
Long entry point 97,000, add long at 96,000, stop at 95,500, target 100,000.
Short entry point 100,000, add short at 101,500, stop at 102,000, target 99,000.
The content of this article is time-sensitive and for reference only; risks are borne by the reader.