11.21 Morning Bitcoin (Big Pie) Market Analysis Thoughts

We always hold the view that when Bitcoin's price retraces, it is a good time to enter the market.

In the early hours, after a rapid surge, Bitcoin's price dropped to around 93100, but then initiated an upward trend, climbing again to near the high of 95000 by 9 AM. Currently, Bitcoin's price has begun to show sideways movement again, with signs of retracement appearing.

From the perspective of the four-hour chart, we can observe that the k-line continues to operate along the upper track of the Bollinger Bands. On the daily chart, we have welcomed a good situation of three consecutive bullish candles.

After nearly a week of consolidation at high levels, Bitcoin has seen a significant price release this week. Based on the strong momentum of this current surge, it seems to have the trend and potential to challenge the 100,000 mark.

In terms of operation, we should not develop fear or a height phobia due to Bitcoin's price being high; we should still follow the strategy of entering when there is a retracement.

Here, the recommended entry point is in the range of 93500 - 93000; when the price is within this range, consider entering the market, with a target price of 96000.

Investors should also closely monitor the real-time dynamics of the market while considering various factors comprehensively, in order to grasp trading opportunities and rhythm more accurately.

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