Liying in the currency circle: The rise after the breakthrough on December 17! Bitcoin is on the way to a new high of 110,000! The latest market analysis
The article was published on December 17, 2024—01:05
The current price of Bitcoin is 106830. How about it? Liying said that you should not doubt whether the bulls are still there. It depends on whether you dare to follow them. Don’t doubt your trading system. Follow the system and keep your faith. Just follow the main force. Liying has reminded for several months that the main force should be long after the retracement. You can not short after following the main bull market, but the retracement is an opportunity to go long. Liying has almost kept 0 mistakes in going long.
Looking at today’s market, Liying still analyzes the price trend. The current K-line pattern of the market has an obvious upward trend, especially the big positive lines on the 15th and 16th. In the 4-hour cycle, the price broke through the previous high of 106466 and encountered resistance near 107170. The current DIF and DEA of MACD technical indicators are both positive and continue to rise, and the MACD histogram is also expanding, showing strong bullish momentum.
The relative strength index RSI14 is close to the overbought zone, but has not yet entered the extreme area, indicating that the market still has room for growth. The short-term EMA7 trend indicator has crossed the medium- and long-term EMA30 and EMA120, forming a golden cross, supporting the bullish trend. The increase in trading volume and capital inflows have driven prices up. In the 4-hour cycle, the trading volume has increased during the key breakthrough period, verifying the effective breakthrough of the price. Then 102,000 is effective and continues to be held. Wait until the pressure level is clear after hitting 110,000.
Today's Liying point forecast
Long point 105,000, 103,500 to cover long, stop 102,500, target 104,000
Short point 109,000, 110,000 to cover short, stop 110,500, target 105,000
The above is Liying's brief analysis of the current market conditions for investors' reference
