Crypto Academy: 11.5 Bitcoin bears continue! Market sentiment is tense! Head and shoulders pattern appears, future trends are intriguing!
Current Bitcoin price is 67700, now it's 9:30 AM Beijing time, the bears continue, the entry point yesterday was not reached, those who haven't entered can continue to observe, if you entered at high levels, don't rush to exit, and don't think about taking profits at the lowest point, securing profits at the pullback point is already very good. Currently, most students are positioned in shorts at 73000, 72000, and 71500, focusing on the large-scale neckline area of 66000 to 66500, this vacuum zone can be fully secured if it does not break, if it breaks, secure part and hold the rest.
Let's look at the market, capital released various negative news before the election, all waiting for the shoe to drop, the daily K-line shows a clear head and shoulders pattern, currently standing above EMA30 support at 67200, yesterday's daily K-line highest was 69500, lowest was 66835, once virtually broke EMA30, although currently holding at the support point, it's important to understand that long-held support will eventually fail, MACD is shrinking downwards, DIF and DEA are spreading downwards at a high level, the Bollinger Bands are contracting and the K-line has broken the middle track at 68650, now support has turned into resistance, the lower track support point is at 65400, the stronger the bearish trend, the more we need to be cautious, as soon as a rebound appears, we must choose to exit.
The four-hour K-line shows a downward channel, the EMA trend indicator is starting to spread downwards in a mesh trend, the EMA trend indicator shows a double death cross trend, indicating that the probability of the market testing a new low again is increasing, MACD bottom divergence trend continues, DIF and DEA are spreading below the 0 axis line, the Bollinger Bands have stopped contracting and are moving downwards, the K-line has also reached the lower track support at 67500, KDJ is spreading downwards, the overall trend remains bearish, focus on the large-scale support point at 65500.
Intraday reference: The market is not 100% certain, so always set stop losses, safety first, small losses and big profits are the goal.
Short above 68500 to 69000, defend 69500 to add to short positions, stop loss 500 points, target look at 67500 to 67000, if broken look at 66500.
Long below 66000 to 65500, defend 65000 to add to long positions, stop loss 500 points, target look at 67000 to 67500, if broken look at 68000.
I am a warrior in the crypto circle who has always protected the retail investors, wishing my fans achieve financial freedom in 2024, let’s work hard together $BTC #比特币行情分析
