11.8 Bitcoin's breakout magnitude is not high! Has the uptrend ended?

After reaching a new historical high yesterday, Bitcoin underwent a brief pullback, finding support around 74500 in the afternoon to evening. Then, early this morning, it broke upward again, reaching a new historical high, with the highest price around 68000. The current price has pulled back to around 75800.
For three consecutive days, Bitcoin has continuously reached historic new highs, but we can also see from the current short-term market that although new historical highs are being broken consecutively, the overall breakout magnitude compared to previous highs is not very large. In the current situation, there may be some hidden dangers, and it is also possible that the upward trend is losing strength.

Of course, it is not possible to directly go bearish now, and today is also Friday, approaching the weekend. Generally speaking, it is normal for there to be no significant market movements on weekends. Currently, I see the pattern resembling an upward wedge with three pushes. This kind of movement usually returns to the starting point of the three pushes to find support after a failed breakout.
At present, I believe this starting point is around 73000. If it is confirmed that Bitcoin's breakout momentum is insufficient and the breakout fails leading to a pullback, we can pay attention to the support situation at this point, as it could be an opportunity for the next round of entry.

Of course, we can also clearly see that today's pullback is less than yesterday's. I judge that this is mostly because today is already Friday, so I believe the pullback may continue, urging everyone to pay attention to the possible support level below.
However, if you are entering at a relatively good position, there is no need to worry at all. Although the breakout magnitude is not high, today's pullback is not very deep, and the speed of the pullback is not particularly fast. Overall, the price is still in an upward trend.
There is a possibility of continued rise in the evening, unless the price experiences a significant increase followed by an immediate large drop and a failed breakout, or if it continues to undergo a deeper pullback, then we will consider the price may retrace to the support level I mentioned earlier. Otherwise, we are still bullish now.

#比特币走势分析

11.7 Bitcoin continuously sets new historical highs! How to find long opportunities?

Bitcoin started to rise yesterday morning, directly surging above 75000, then subsequently pulled back to 73000, and in the afternoon, it began a rebound trend that continued until the early hours of today, when Bitcoin again set a new high, reaching a peak of 76400.
The current price is again pulling back, and the current price is around 75000, still at a very high level, appearing to have the potential for another surge at any moment.

By drawing a trendline connecting the recent high points, it can be observed that Bitcoin may be forming an upward channel, which is a pattern that commonly occurs in a rising market. Currently, it appears that the Bitcoin price is likely to pull back to the bottom of this channel, which seems to be a very opportune place for a rebound.
The key support level below is believed to be around 73000, which is the first point where Bitcoin held after surging to a historical high yesterday afternoon. Therefore, as long as this position is not broken during the pullback process, I believe the uptrend remains intact.

However, if the price pulls back below this level and breaks the short-term support, I think bulls should be cautious, temporarily observing the market and waiting for the price to return above this level, or to hold at a more crucial lower support level before considering to chase long positions again.

If it breaks down, I will continue to monitor and remind everyone about the pullback situation of the lower support level. I expect it might be around the 70000 level, but that's a topic for later; however, it is still important to remind everyone.
Because the arrival of a crazy bull market means that the volatility will also be very large, being careless in a bull market could also lead to significant losses.

#比特币走势分析

11.6 Bitcoin Witnesses History! A Surge Has Occurred!

Bitcoin is witnessing history, and after today's daily closing, Bitcoin has begun to show a surge trend. As of now, the Bitcoin price has reached a peak of 75,000. This wave of market movement has come too quickly; just a few days ago, Bitcoin's price had been experiencing a continuous decline. Today's surge has directly recovered the losses of six consecutive daily candles.

To be honest, this surge has been incredibly strong. Our member community also got on board yesterday when Bitcoin retraced, directly making a profit of 5,500 points. We mentioned in our article on November 4th that Bitcoin was likely to attempt to break through the historical high again this week. Whether it can break through remains uncertain, but the rebounds in between are our profit points.

In yesterday's article analysis, we saw that Bitcoin continued to retrace and suggested waiting for the daily line to stabilize first, as there had already been six consecutive bearish candles. It was a more prudent suggestion to wait for Bitcoin to close a strong bullish candle on the daily line before proceeding.

In fact, one can also see on the charts that Bitcoin only erupted into a very rapid rise after closing the daily line yesterday morning; however, the speed was still too fast, and perhaps everyone did not realize it or remember my viewpoint.

Now Bitcoin has reached a new historical high, but from a larger perspective, it is still just a slight breakthrough of the previous high, which could potentially turn into a false breakout. Therefore, it is crucial for Bitcoin's price to continue breaking through to higher levels or stabilize at high positions of 74,000 to 75,000, as this would provide the next opportunity for a bullish trend!

#比特币走势分析

11.5 Bitcoin continues to decline! Is there still a rebound trend?

Bitcoin continued to decline yesterday. Looking at the daily chart, we can see that there have been six consecutive bearish candles. Under these circumstances, it seems that Bitcoin is about to fall to the next support level, which is around 65,000.

From the trend line drawn from the bottom, it can be seen that the current price has not yet reached the position to retest the trend line. However, if it drops to the support level of 65,000, it will have to touch this upward trend line.

As we mentioned yesterday, there is a chance for Bitcoin this week to attempt to break through the key resistance area around 73,000 to 74,000. This is also a historically significant resistance range. Based on previous situations, I believe that the price should not just end the downward trend after a pullback, but should continue to attempt to make another breakthrough.

If the breakthrough fails again, then I believe a pullback will begin. However, the situation in the last few days has not followed this pattern. After the price reached around 73,000, it faced resistance and has been continuously pulling back down, with a significant decline. In the early hours, the price also dropped to the 66,000 price range.

Moreover, from the daily chart, the MACD is currently showing a dead cross trend, and the situation is not very optimistic. My suggestion is still to wait for the price to show a rebound on the daily chart before considering whether it will attempt a second breakthrough.

Although I expect the price will likely attempt a second breakthrough, we still need to wait for Bitcoin to stabilize after the pullback before considering relevant actions. Therefore, at present, we should first expect the daily chart to show a bullish candle to stabilize at the bottom; otherwise, bulls should refrain from taking action recklessly.

#比特币走势分析

11.4 Bitcoin's attempt to break historical high fails! Will there be a second breakout opportunity this week?

Bitcoin's current price is around 69,200. At the end of last month, Bitcoin experienced a very strong surge, reaching a peak of around 73,700, but subsequently failed to break through again and chose to decline after a period of sideways movement.

Initially, it dropped to around 69,000, and subsequent attempts to rise were unsuccessful, leading into the weekend. Then, yesterday morning, the price continued to decline, hitting a low of around 67,000.
As we enter a new week, which is today, early in the morning, Bitcoin's price has started to show signs of an upward trend again, currently returning to above 69,000.

From a daily chart perspective, since Bitcoin's attempt to break the historical high failed, it has recorded four consecutive bearish days. The rebound early this morning seems to show signs of a bullish candle, but from the daily view, it is still far from sufficient.

The trend of continuing to rebound and attempt to break through is not visible from the daily chart, but I believe there should be an opportunity for this to occur in this new week, as Bitcoin attempts to break the historical high. I think this opportunity can't just be a one-time attempt that fails and then returns to a sideways or downward trend.

From the MACD perspective, currently, the MACD fast and slow lines are forming a death cross above the zero line, which is a very unfavorable formation, indicating that the resistance above is still very strong, and Bitcoin's upward momentum is insufficient.

I currently believe that this week there may be another opportunity to attempt to break through the historical high resistance above. I hope this time Bitcoin can unleash very strong energy; if it fails to break through again, it will be very hard to say what will happen next.

#比特币走势分析

10.29 Bitcoin starts a strong rise! Is the bull market really coming?

Bitcoin's price has been continuously rising since early morning today, directly breaking through the $70,000 mark, with the highest price reaching around $71,600 so far.

This is a very rare upward trend, as Bitcoin is currently at a very high position, and it seems that a new round of bull market is about to start. Just yesterday, we were discussing whether the triangular pattern could break through, and to our surprise, the market moved so quickly. This opportunity is rare, and we must pay attention to the upcoming situation; it is very likely that the bull market will start directly next, and by the time we realize it, we may have missed out and will have to wait several more years.

From the above chart, the highest position Bitcoin has reached is exactly at the extension of the previous top trend line. Currently, it seems to be facing resistance, and the previous market did indeed provide some pullback. However, in this situation, if strong upward movement continues after a pullback, we must consider that the upward trend will continue.

The upcoming market may still experience some small pullbacks, as the price has temporarily returned to below $71,000. After a small pullback, it is very likely that there will be continued growth today. Based on my personal experience, once an upward trend starts, the speed is very fast; it is normal for the price to rise by three or four thousand dollars within a day.

So today, in the short term, everyone can look out for small support levels after the pullback stops, which could be considered for entry. Of course, there is also the possibility that today might see a failed breakout, leading to continued declines; however, I still think it’s worth trying.

The above is just my personal opinion and does not constitute investment advice. If my friends have little experience, it is still advisable to observe and consider using a demo account or trading with very small positions, waiting until they can achieve stable profits before considering making money. The experience of a bull market is also very important!

#比特币走势分析

10.28 Bitcoin Tries to Break Through Again! Will It Succeed Today?

On the 25th, Bitcoin attempted to rebound and break through again, but when the price approached around 68,700, which is the resistance at the previous high, it was unable to succeed in breaking through. Subsequently, it began to decline relatively quickly, with the lowest price dropping to around 65,600.

This position happens to have support from the previous low, and the price temporarily held here, rebounding back to around 67,000. Then entering the weekend, the Bitcoin price has been consolidating around 67,000 for almost two days.

Then last night, the price started an upward trend again, briefly touching 68,000, but as of now, it is still slightly below 68,000.

Looking at the current situation from a four-hour perspective, we can see that the price has begun to show a converging fluctuation at the top, forming a triangle pattern. We have always said that triangles are a very complex pattern. Last night into the early morning, the price rebounded to the highest point, which just touched the descending trend line at the top of this triangle.

If the price cannot break through, it looks like it will likely retrace to the bottom trend line of this triangle, currently estimated to be around 66,000. From today's situation, the probability of breaking through does not seem high, so it appears there might be a short-term opportunity to short.

However, everyone should note that it is best to enter when there is a failure to break through at a relatively high position, as we can refer to the situation we initially analyzed, where the price returned to the previous high and failed to break through. The decline on the 25th was after two attempts to break through, with the second attempt failing, which then initiated a rapid decline.

The current price is certainly at a high position. It can be clearly seen that after the price rose, it reached around 68,600 to 68,900, continuously failing to break through, leading to the formation of a converging triangle. This converging triangle may still have the opportunity to make an upward breakthrough. Personally, I suggest waiting for a pullback to the support of the trend line below the triangle; trying to go long at this position might be a better choice!

#比特币走势分析

10.25 Bitcoin Pullback Rebound Trend! New High Surge Begins?

Yesterday, Bitcoin fell to around 65000, then the price quickly rebounded, returning to above 67000. This was the general situation of the market when we analyzed it yesterday.
Subsequently, the market provided a downward correction, pulling back to around 66700. This position, as shown in the chart, is the bottom of the small range that was previously broken. Yesterday, the price retested this position and continued to move upward, and so far the highest price has reached around 68800. Now, the price has pulled back again.

The current price is around 68000, and we can still see from the above chart that this position is also very critical, as it is the top of the small range that was previously broken. Now it has just retested this area. It seems that the price is likely to find support here, with a trend to continue rebounding upwards.

Looking at the four-hour level, we mentioned yesterday that the price might experience a large volatile range at the top. At that time, the price was still near 67000, and now it has rebounded back to above 68000. It is relatively close to the top of this large range, but the price has not yet reached it, and there is still some space.

Once the price reaches the top position, which is the previous high, I believe there is a chance for the price to continue testing this key resistance above. The previous highest price was around 69500, and there is an opportunity to break through this level. It seems the key is to stand above the expected position.

Continuing to look at the daily level, we can see that the price previously pulled back to around 65000, and at the daily level it also appears to have roughly retested the middle line of the Bollinger Bands. Yesterday's daily line closed with a large bullish candle, which means this wave of trend is also a pullback to the middle line of the Bollinger Bands, continuing the rebound trend. The first target is to see Bitcoin continue to reach the previous high, and we hope Bitcoin can break through the previous high to initiate a strong upward trend.

#比特币走势分析

10.24 Bitcoin has received new support! Is it about to attempt another breakthrough?

Bitcoin did not manage to hold above 69,000 a couple of days ago and started a downward correction. It formed a sideways fluctuation range above 67,000, but this range was broken yesterday afternoon, and the price fell all the way down to around 65,200 by early morning.

Then, when the price dropped to around 65,000, it found support and immediately began a strong rebound trend. As of now, the price has returned to above 67,000. Compared to the price drop, this increase has been faster and stronger.

Continuing to observe from the four-hour level, it can be seen that after the price dropped to around 65,000 yesterday and found support, it rebounded quickly. So far, the market has continuously closed with bullish candles, and the lowest one is a bullish signal candlestick.

By observing the previous lows, 65,000 is also a very critical support position. Therefore, we can expect the price to possibly continue to form a new fluctuation box here, as shown in the diagram, with a bottom of 65,000 and a top of 69,000.

The current situation is that it has hit the bottom of the range and experienced a strong rebound. Logically, the upcoming market has a chance to rebound to the top of the range again and try to break through the previous high, giving the price a chance to successfully break through and stand above 70,000.

Then, observing the current market from the daily level, it can be found that the MACD at the daily level shows very obvious signs of forming a death cross. Therefore, the price needs to hold at the four-hour bottom support and rebound to test the upper edge of the range, and this must happen quickly.

Ideally, such a market should appear today. If it drags on for too long and the MACD forms a death cross on the daily, it is estimated that this rebound may just be a simple correction before continuing the downward trend.

#比特币行情走势分析

10.23 Bitcoin has no chance to break through? Be careful of being broken here!

The current price of Bitcoin is around 67,000, as shown in the figure. Yesterday, the price of Bitcoin had already broken through to the highest level above 69,500, but it failed to break through upwards successfully, and then began to fall, with the lowest price falling to around 66,700.

Yesterday, the price was temporarily supported at the previous low point. We say that if it is supported on this side, there is still hope to continue to make an attempt to break through upwards, but so far, if we continue to observe the market, we can find that the price has started a sideways fluctuation trend at this place.

Then during the price fluctuation process yesterday, the highest rebound point was 67,800, which has now become a short-term upper resistance. The lower support still supports the price as yesterday, so it is currently a very small market fluctuation trend.

In this case, although the price has not been able to rebound quickly from this place and has not been able to continue to try to make an upward breakthrough, I think it should still be the same as yesterday. After all, no one can know in advance whether the support and resistance levels can be broken.

Therefore, before the support level is broken, we do not need to think that the downward trend has started.

Then let's continue to look at the daily level. In yesterday's article, I also mentioned that once the current lower support is broken, it seems that there is a lot of room for decline. We can draw an upward trend line connecting the previous callback low point at the daily level we mentioned yesterday. It can be found that if the price falls directly to this trend line, the market will go straight to 63,000.

Before breaking the support level, we think there is still a chance of breakthrough, but when the price breaks the current short-term support level, we have to observe whether the support of the lower trend line can hold up. At that time, the bulls can also consider not to hold on.
#比特币走势分析

10.22 Bitcoin has failed to break through again! Will there be a major crash?

The current price of Bitcoin is around 67,300. As shown in the chart, after briefly breaking above 69,000, Bitcoin was unable to hold that level and the peak it reached faced resistance from an upward trend line. Previously, it was in a fluctuating upward trend, but it has not been able to continue its breakthrough, resulting in a decline.

Currently, it can be seen that Bitcoin's lowest retracement price has touched a previous key point, which can be considered the current support level, approximately around 66,700. If this level can hold, it remains in a high-level consolidation state, and the price may still have the potential to break upward at any time.

However, it is regrettable that there was no significant breakthrough yesterday, which marked the beginning of the week. Of course, this does not mean that there are no opportunities ahead.

Looking at the current situation from a four-hour perspective, it can be found that the low point of Bitcoin's retracement coincides with a previous key high point, serving as a higher-level support and resistance exchange point. If the price stabilizes at this support level, there is hope for the formation of a consolidation box at the top, which I believe would provide more opportunities for bulls if the current price holds above.

Of course, if this level is broken, it appears there is significant room below, which could trigger a substantial decline.

From a daily chart perspective, the price might drop to around 63,000 because there is a trend line support level here. Moreover, through analysis, we found that if a decline occurs, it is not necessarily a divergence, so there is no need to worry excessively about Bitcoin entering a bear market. After a retracement, there are still opportunities for breakthroughs!

#比特币走势分析

10.21 Bitcoin is trading sideways at a high level! Has the risk of bulls been reduced?

Bitcoin's recent market has been very strong. It has been trading sideways at a high level and trying to break through over the weekend. In the morning of today, the highest price of Bitcoin has reached around 69,500. It can be said that it has been fluctuating upward.

As shown in the figure, the price correction is also trying to break through the resistance of the trend line connected to the top. Although it did not break through successfully, the overall trend of the price is still upward. In this case, when the altcoins are soaring, Ethereum and Sol have risen well recently.

But in general, Bitcoin is just trading sideways at a high level, slowly fluctuating upward, and there has not been a big rise. The situation of strong surge has not appeared, and from the short-term situation, this pattern is not very good. It is an upward wedge trend. Breaking the trend line below may cause a big correction and decline.

Of course, I think that even if the breakthrough fails, it will not have a big impact. If the price just broke through the high point in the past few days, it will fall, which may cause a very big decline.

If the price just broke through the previous high a few days ago, and the price immediately fell because of the failure of the breakthrough, it would trigger a downward trend of top divergence at the daily level, because we also said before that this round of market is a strong bull market with MACD forming a golden cross trend above the zero axis.

As shown in the figure, if the price just broke through the previous high and then fell immediately, MACD is an indicator with a very strong lag, and the fast and slow lines must not have reached the previous high, which will trigger a divergence trend.

Of course, there is no need to worry about such a situation now, because the price is strong and sideways at a high level, and the fast and slow lines are also at the previous high point. Even if the failure of the breakthrough now triggers a decline, it is not a divergence trend. In that case, the decline after the failure of the breakthrough is a normal decline.

If the price is supported, there is still a great chance to continue to try to break through, and the risk of bulls will not be so great!

#比特币走势分析

10.18 Pay attention to Bitcoin's breakthrough at any time! Will the bull market start again after breaking through here?

Bitcoin fell back to the lowest level of 66,700 yesterday, and then the price rebounded temporarily, but the rebound did not last. Later, the price fell back again, and this time it was supported. In the short term, it can be said that there was a double bottom.

After that, the price began to rebound. In the morning of this day, the price suddenly made a breakthrough and tried to break through the high of 68,000 again. The current price is already around 68,000. According to the previous highest high point, it should not be considered as a successful breakthrough.

But we know that as long as the price can be sideways near the high level, it has the possibility of breaking through at any time, so it is very likely that such a market will appear today. The price of 68,000 has been touched many times. Once the price breaks through, if it really breaks through, it should go directly to more than 69,000. This is my current view.

Then we can pay attention to the low point of yesterday's callback, which can be connected to form an upward trend line. Combined with the resistance position at the top, Bitcoin is currently sideways at a high level to form an ascending triangle structure. Obviously, this is a bullish pattern.

At present, the price pattern and position are very friendly to bulls, but one thing is that today is Friday, and it is almost the weekend. We know that it is difficult to see a sustained rise in the market under this situation, because there is generally no particularly large market on weekends.

But if we observe the market from the daily line, we can find that the current position is a very important historical key point. I think once it breaks through here, the bull market will start again. So once this position can be broken, I think there will be no weekend market restrictions, and everyone may fall into madness because of this!

#比特币走势分析

Bitcoin failed to break through! The consequences may be very serious?

Bitcoin continued to try to break through last night. It can be seen that the price came above 68,000, and the highest price reached 68,400, but the selling pressure above 68,000 was still too strong, and the price failed to stand above 68,000 and fell quickly.
So far, the market has been in a state of oscillating decline, and the current price is around 67,300. From a technical analysis, the trend of breaking through 68,000 is a false breakthrough of the previous high point, but the result is a failure to break through!

Then the failure of the breakthrough will generally cause a decline, and the price will pull back to the support level. At present, I have also marked the key support positions at the current short-term level below on the chart. If the price can stabilize at these support levels, I think there will be opportunities to continue to try to break through next.

Then from the daily level, yesterday's daily line also continued to close with a positive line, but it is obvious that there is a very strong resistance at this position, which is also the position where we can see a very obvious trend line suppression from the daily line.

The price has failed to break through this place many times before, and then it has caused a huge decline. The price has continuously explored new lows, and the lowest price has fallen below 50,000.

If the price still fails to break through this time, I think it is very likely that the price will fall into a bear market. In the above picture, I have drawn the possible form of macd if Bitcoin fails to break through this position.

The fast line will cross the slow line again and form a dead cross, but it is obvious that this breakthrough is higher than the previous high point. The corresponding macd fast and slow lines are opposite to the price. This is a typical trend of macd top divergence, so if the breakthrough fails this time, the consequences may be very serious.

Of course, there is no such situation at present. We just made an expectation first, which is to remind everyone that once the trend changes, we must be sober in time!
#比特币走势分析

10.14 Bitcoin continues to break through! Is the surge not far away?

The current price of Bitcoin is around 64,000. In the two days of the weekend, Bitcoin has reached around 63,400. However, we can see that Bitcoin has not been able to break through the resistance position near 63,400 in the two days of the weekend. Three attempts to break through were unsuccessful, and then it started to pull back.

The price has pulled back to around 62,000. After reaching here, the price immediately rebounded, but before the close of this morning, the price did not show an obvious breakthrough trend. Until around 11 o'clock this morning, the price suddenly soared and directly broke through 64,000.

Then we observe from the four-hour level. This wave of sudden price surge directly came to the previous high point, that is, around 64,400 that could not be broken before. The current price is slightly adjusted downward because it is actually encountering new resistance here.

So can the current upper resistance be broken?

I think we need to continue to observe from the daily level. First, let's look at the Bollinger Bands. When the daily line closed on the 12th, it can be determined that the price has broken through the middle track of the daily Bollinger Bands, because it is obvious that the daily closing price is above the middle track of the Bollinger Bands.

But the price later adjusted on the 13th, but after closing the 13th daily K-line this morning, it can be found that this is actually a bullish signal K-line. Although this is a Yin line, it has a very long lower shadow, which is a very standard bullish hammer line in the textbook.

Then today's daily line also continued to rise, but it has not closed yet. Of course, this is not important, because from the Bollinger Bands, since the price has broken through the middle track, we can directly see that the price can rise to the upper track, and the current position near 64400 is not the upper track position.

The upper track position of the Bollinger Bands daily line should reach above 66,000, so I currently think that this 64400 area should be able to break through with a high probability!
#比特币走势分析

10.11 Bitcoin fell below 60,000 in an instant and then came back! Is the upward trend back?

Yesterday morning, Bitcoin still had a rebound trend. After a two-stage rebound, the price reached a high of around 61,300. Then in the afternoon, the price began to fall and continued to fall until last night.
After that, the price began to try to test the key bottom support position, which is the position of 60,000, and then rebounded a little. In the early morning of today, the price directly fell below the position of 60,000. Because the key position was broken, the price fell like a waterfall, and the lowest price fell to 58,900.

Then the price started to rebound again, and the current price rebounded back to above 60,000. The current price is around 60,600. Seeing that the price fell so quickly, everyone might think that the plunge trend is coming, but the price came back in a blink of an eye. Is it possible that it is a market for liquidating longs?

A few days ago, both long and short positions exploded, and then this wave of rapid decline in the early morning liquidated 135 million US dollars, and the main explosions were long orders.

Obviously, it is beneficial for the price to rise after clearing the long orders, but the price has just fallen below the key support of 60,000, so I dare not easily think so. It is not good for me to go bullish now. In addition, the 60,000 position fell quite quickly.

But if the price can continue to rebound today and break through the previous high point, as shown in the figure, it is around 61,300, and return to this point, then I think there is still a chance of rising in the future, at least we can see the previous higher high point, which is around 64,000.

#比特币走势分析

10.10 Is the 60,000 support of Bitcoin still stable?

Bitcoin was falling yesterday, but the overall decline was not much. In the evening, the shorts began to exert their strength, smashing the price to the support position near 61,700, and then as soon as the early morning came, the price directly fell below this support position, starting a rapid decline.

So far, the price has fallen to around 60,300, and now the price has rebounded slightly to around 60,800. We know that the price just fell to around 60,000 before. At present, I think there is still a relatively strong support level around 60,000.

Then we continue to look at the daily level. The current price is close to falling to the lower track of the Bollinger band. Combined with what we said before, the 60,000 position supported the price before, and now it is almost the lower track of the Bollinger band. The combination of these two conditions should be a very stable support position. I think it should be difficult to fall below here for the time being.
Then today is Thursday, a very critical day. Today, the bears still have a good chance to continue to try to smash the market, so I think it is very important for today's price to hold the 60,000 position. Once it holds, tomorrow will be Friday, which is almost the same as the weekend.

Then such a strong support position, and an integer barrier, generally there is no particularly big market on weekends, and it should not be easily broken. If it falls below this place on weekends, the most likely reason is that there is a relatively big bad news.

If the price is supported from the evening to the early morning for a few days, and there is no particularly big bad news on the weekend, the support position is stable, then when next week comes, there will be another chance to continue to rise.

#比特币走势分析

10.9 Bitcoin is powerless to turn around! Is the decline about to start?

Bitcoin also tried to break upward yesterday, and the highest price rebounded to around 63,100, but soon it started a downward trend again. After that, the price immediately broke a new low, but we can see that there was no big decline.

The current price is still around 62,100. As shown in the figure, I think the current price support should be around 61,700 below. The price has not yet reached this place, but the current price is obviously in a volatile downward trend. It is still in a downward correction after the failure to break through 64,000, so it is possible to continue to fall a little bit to the support position.

Then from the daily line, we analyzed the Bollinger Bands yesterday and found that the price was about to break through the middle track of the Bollinger Bands, but it failed to break through successfully. The daily closing was very bad, and a K-line with a long upper shadow was closed. This is a bearish signal. It should be a correction that the Bollinger Bands middle track cannot go up and continue to fall to the lower track of the Bollinger Bands.

But we also saw the same situation before. The previous market also pulled back to the middle track of the Bollinger Band, and then the price failed to break through and closed a very bad K-line, but the price was able to directly break through the middle track of the Bollinger Band the next day.

So after we looked at the daily line yesterday, we said that we could wait one more day to see what happened later. So far, although the price did not directly rise and break through the middle track of the Bollinger Band, it did not fall sharply. If you were anxious to go in and short yesterday, you might have been stopped out because of a small rebound in the short term.

Now I think we can continue to pay attention to the support position mentioned earlier in the short term, and consider shorting after it falls below it, but the goal can only be to see the position of the lower track of the Bollinger Band first, because if it does not fall below the support position of the short term, it is equivalent to shorting on the floor from a short-term perspective.

#比特币走势分析