11.24, Bitcoin experienced a decline for the first time this week. Is the trend broken? Don't panic, it's just a trap to induce shorts, be patient and wait for opportunities to go long at lower prices! Latest market analysis.
The current price of Bitcoin is around 98,400. The daily line shows a small bearish candle with a lower shadow, dropping to the lowest point of the previous candlestick. The daily MA7 extends to 95,700, maintaining an upward trend. The KDJ indicator shows a trend of diminishing upward momentum, and the RSI average remains at 79, still indicating a bullish trend. On the 4-hour chart, there is a clear pattern of lower highs and lower lows, with technical indicators MACD and KDJ both showing a double death cross, and the green bars are increasing.
Now, the 100,000 mark has become a consensus, just like the previous 70,000. A large number of profit-takers or shorts are waiting, and it won't be so easy to rise in the short term. Today, it is likely to still move sideways, so under the condition that the overall trend remains unchanged, all pullbacks are our opportunities to go long. What we need to do is to set strict stop-loss orders and enter long positions. Short positions can only be taken for a short time with timely profit-taking.
Currently, we have long positions established yesterday, and after adding to the position, the average price is now at 97,900. Those who haven't entered yet can continue to wait for opportunities. Look at the trend in the larger time frame, and find points in the short term. Today's trading strategy for long positions: 97,900 - 97,400, aiming for 93,000.
Please refer to the actual trading for specific operations, there may be delays in publishing, and investment carries risks, please manage stop-loss according to your own risk tolerance.
