Bitcoin prices hit new highs and market activity continues to heat up

As of November 21, 2024, the latest price of Bitcoin (BTC) was approximately $97,555, an increase of approximately 5.94% from the previous trading day.

The market has recently shown the following trends:

In terms of price, the price of Bitcoin continues to rise, breaking through many key resistance levels, and has a significant upward trend. In terms of transaction size, the 24-hour turnover was approximately US$8.348 billion, reflecting the current high and active market.

Analysis from a technical perspective:

The three moving average (MA) curves (short, medium and long-term) are all showing an upward trend, and the Bitcoin price is located above these moving averages, showing a continued bullish pattern. The Relative Strength Index (RSI) is close to 70, which is in the overbought area. We need to pay attention to possible short-term adjustment risks.

Support is set at $95,000 and resistance at $100,000.

Influencing factors include:

Institutional funds have increased their investment in Bitcoin, providing impetus for price increases. On the other hand, rising global economic uncertainty has also pushed up the demand for Bitcoin as a safe-haven asset.

If it can break through the psychological key point of $100,000, it may attract more funds to participate and drive the price further upward. However, technical corrections in the short term also require attention.

In general, the Bitcoin market continues to improve, but investors need to be cautious about potential adjustment risks. #MEME趋势风向 #上市公司比特币战略