Date: November 10, 2024
The upward trend continues to await final confirmation; be aware of short-term market pullback risks.
Daily Level: Yesterday's daily closing price also closed below the previous day's upper shadow, still needing to wait for the last candle's closing price to create a new high to confirm the '1+3' model of the upward breakout.
4-Hour Level: From the corresponding 4-hour chart, the trading volume is still in a diminishing state, lacking sufficient volume to support a strong upward breakthrough. The price is likely to pull back after rebounding to the lower edge of the ascending wedge. The upper resistance is at the Fibonacci 1.618 level (around 77800), so the risk-reward ratio for chasing long positions here is not high and carries significant risk.
Simplified Version
Currency: BTC
Date: November 10, 2024
Technical Analysis: Indicators: '1+3' Model + Fibonacci Conclusion: The upward trend continues to await final confirmation; be aware of short-term market pullback risks. Resistance Level: Around 77800 Support Level: Around 72600
Can Bitcoin break 80000 this week?
