#BTC Pie market observation on February 21, 2024 Today, the market fluctuated in the range of 50528.4-52402.3. It has fluctuated for 7 consecutive days. The trading volume shrank compared with the previous day, with a daily amplitude of 3.5%. From a technical point of view, the two major structures of 51880-52233 small level and 51940-52098 mid-level have been penetrated, and the recent market conditions are not good. The future trend faces the following two possibilities: First, it is difficult for the mid-level 51940-52098 to rebound to form a mid-term resistance point, and the market may enter a period of adjustment. Second, the price strongly broke through the resistance of 52098, reshaping this level as new support, or laying the foundation for a rise in the market outlook. At present, the 51940-52098 range has become an important key to determining the short-term trend and the market outlook. If it remains volatile at this level, the market's desire to choose will be difficult to understand. If either party wins, the trend will become clearer. Investors need to pay close attention to whether 51940 has the support ability to judge the closing or opening opportunities. The structural aspect determines the trend and will guide the future value trend.
Pie market observation on February 20, 2024 #BTC Today, the pie price broke through the recent high of 52859, rose to 53090.9 and then quickly fell back to 50788, with an intraday fluctuation of 4.44%. This is in line with our judgment yesterday that the overall bullish pattern of Bitcoin in the medium and long term continues, but in the short term it may enter a callback stage that will be repaired through important support. There were obvious ups and downs today. Both short-term bulls and shorts suffered huge profits and losses, intensifying competition. From a technical point of view, if the 51880-52233 small-level structure can effectively stabilize in this range, further bullish targets may point to 57777 again. As the shock band expands, it is now more important to pay attention to changes in key support levels to determine short-term trends. Generally speaking, the market faces greater volatility in the short term, and the bullish tone remains unchanged in the medium and long term. Investors need to pay attention to warehouse management.
Pie market observation on February 19, 2024 #BTC Today, the market continued to fluctuate between 52532.9 and 51688.8, with intraday fluctuations again narrowing to 1.62%. From a technical perspective, the two structures of 51880-52233 small level and 51940-52098 medium level continue to be difficult to effectively solidify. In addition, there are signs of weakening in technical indicators, indicating that the recent trend faces more undetermined factors. Judging from the current data, the price cannot break through and maintain the previous day's high, indicating that the competition situation is still fierce. It is also necessary to further observe whether the two major support pressures of 51940 and 52098 can be eliminated. In the medium to long term, the overall bullish pattern may be continued. However, due to the lack of structural support, there may be room for correction and repair in the short term. Those who buy at low prices can sell at high prices, wait and see, and try to open short positions with small positions. We will continue to follow up on changes in key technical signals and provide everyone with a reference for decision-making. Please pay attention to your own risk management. At the same time, we remind you that the market is highly volatile and you must operate with caution.
Pie market observation on February 18, 2024 #BTC! Today, the market once again fluctuated around the range of 51,880-52,233 US dollars, with a maximum of 52,450 US dollars and a minimum of 51,178 US dollars. The daily amplitude narrowed to 2.4%. From a technical perspective, neither the small-level structure 51,880-52,233 US dollars range nor the mid-level structure 51,940-52,098 US dollars range has effectively stabilized, showing that short-term trends are complicated and difficult to determine. It is even more necessary to timely and accurately grasp market changes through intraday bands. This process reflects the intensity of the capital game and the hesitation of prices in determining the direction of the trend. We maintain yesterday’s trend judgment, which is: to stabilize at the mid-level of $52,098 and then challenge 52,859; or to form a mid-level selling point near $51,940 for correction. In the future, the competition for buying and selling points in the range of $51,940-52,098 will become the key.
In the medium to long term, the overall market may show an upward trend, but short-term fluctuations are likely to continue. Investors need to pay attention to multiple signals, stay patient and wait and see, and make appropriate adjustments at any time based on their own risk costs.
Pie market observation on February 17, 2024 #Bitcoin
Today's pie fell from US$52,192.8 to US$50,647.5 during the day, with a daily decline of about 1% and a 2.9% fluctuation.
From a technical perspective, the mid-level $51,940-52,098 range structure has been completed. The small-level structure completed the final structural form of the $51880-52233 range,
There is a selling point at a small level in the short term, but the range is sufficient, and the price has returned to the support level to fluctuate.
There are two possibilities for the future trend: the first one continues to stand at the mid-level level of 52,098 US dollars and then challenges 52,859;
The second is to form a mid-level selling point near $51,940 for correction.
Recently, the market has experienced repeated ups and downs, with drastic changes in small bands and obvious capital games. Since we became bullish on January 23, the increase has reached 37%, and the need for corrections has increased.
Generally speaking, the current volatility is relatively large. Investors need to pay attention to technical signals and appropriately reduce the risk exposure of the position cycle.
Today, the market fluctuated in the range of 51611.7-52623 US dollars, with the daily amplitude narrowing to 1.95%. This is consistent with yesterday’s judgment that the $51,755-51,533 area requires long-term observation for realization.
From a technical perspective, the small level formed an upward structure in the range of 51949-52255 US dollars. Currently, there are two upward structures in the small level, namely the 51755-51533 US dollars area and the 51949-52255 US dollars range. The two structures in the same direction indicate the beginning of the trend.
With the continuous shocks at the small level, the mid-level $52,188-51,955 range structure has not yet been completed, and more time of shock consolidation is needed to form an established trend.
Yesterday, some netizens were anxious in the comment area about when the market would break through the ideal price. This gave me the following inspiration:
In English, long is LONG and short is SHORT. From my understanding, long LONG means doing long for a long time. Being long is a long-term thing and will not end in a little while. SHORT short means short-term and cannot be long-term. Do it. Since we have chosen a long-term thing, we can relax and wait with peace of mind, and the money will not be in a hurry. We will update our views and opinions in the comment area as soon as possible according to structural changes.
Overall, the recent market situation is still in a state of shock, and it is necessary to characterize the trend composition of each level over time. Investors can seize the opportunity to increase their holdings moderately.
Today, the market fluctuated at a high level in the range of 51334.9-52859 US dollars, with the daily amplitude controlled within 2.9%.
This verifies our judgment yesterday, with high levels of shock, forming a regional structure of $51,755-51,677.
At present, the rising structure has been completed. We have adjusted the structural area to $51755-51533, making it an object to pay close attention to.
Technical outlook: Whether the market outlook can form a new buying point in this area will determine the direction of the trend.
The overall market is in a state of anxiety, and it is necessary to observe the competition for buying and selling points in the $51755-51533 area for a long time.
We will continue to track and monitor the trends of important targets to observe changes and make appropriate judgments.
The pie continued to rise strongly today, climbing from US$49,215.7 to US$52,568.3, with the US dollar's daily amplitude as high as 6%.
This once again verifies the upward trend after successfully building a support point in the $49877-49822 area yesterday.
Technically, after breaking through the important resistance, the stronger strength did not return to this area. After that, a new small-level upward structure began to brew in the $51,755-51,677 range, which has not yet taken shape.
There may be two possibilities for the market outlook: the first is a high shock, forming a regional structure of 51755-51677 US dollars; the second is a retreat. The $49877-49822 area once again confirmed a new buying point.
Judging from the current market situation, we believe that the first one is more likely to be realized, that is, $51,755-51,677 will become the key indicator area.
Overall, the recent strong upward momentum has not changed, but we need to pay attention to the probability of possible high-level retreat.
February 13, 2024, pie market observation #BTC! Today, the pie fluctuates in the range of 50428.8-48301 US dollars, with a daily amplitude of 4%.
The previously formed small support structure in the $49877-49822 area was broken through.
From a technical perspective, the market outlook may have two trends: The first is to observe whether the 49877-49822 range forms a resistance selling point, triggering a correction to $47333 or even a lower $44666.
Second, it is strongly pulled up to US$50,000, and then the US$49,877-49,822 area may regain support and become a new buying point.
The key to the follow-up is that the competition for buying and selling points in the US$49877-49822 range has become the key.
We will continue to pay attention to the performance of this important area and monitor changes in market trends. Overall, the market has been relatively volatile recently, and we need to pay attention to the potential for correction and recovery.
Today, the pie broke through the important resistance of $49,027.5 and then rose straight up, reaching a maximum of $50,413.2, with a daily amplitude of 5%.
This has verified our earlier judgment that there is no big chance of a correction before it passes the $49027.5 area.
From time to time, the market will have such a strong trend that cannot be corrected. This is why yesterday in the comment area, it was pointed out that "don't go short when the trend is up, and don't go long when the trend is down."
From a technical point of view, the latest small-level support may be formed in the 49877-49822 range, but the structure is not yet mature, so we need to pay close attention to its subsequent trends.
Overall, after surpassing important resistance, the future trend will be upward. However, there is a lack of structural support and there is also the risk of a correction in the short term.
A new rising structure and a new buying point are formed. We will continue to follow up and share our views in the comment area.
Over the two days over the weekend, the market fluctuated upward, reaching a maximum of $48,600, with an amplitude of 3.7% over the two days over the weekend. This was in line with our second analysis and judgment on February 9, which fluctuated in the $47,433-47,000 area, forming a new small-level upward structure. Then hit a new high. Although the overall upward amplitude during the two days of the weekend was only 3.7%, the overall trend was strong.
Without breaking through $49027.5, we judge that there is still a greater chance of a callback.
Ideally, it would pull back after the high level and form a new buying point in the $43,666 area. This will help control the subsequent rise and make it more sustainable.
Currently, $47333-47150 has formed a new small-level rising structure.
We must focus on the performance of subsequent key supports and trading volume to verify the possibility of a callback.
We will continue to pay attention to the market and share our views, and please investors pay attention to transaction safety.
Pie market observation on February 9, 2024 #BTC! Today, the market fluctuated slightly from $45,218, reaching a maximum of $47,699.5, successfully breaking through the resistance of 46,666, with an amplitude of 5%. This verifies the second scenario in our analysis yesterday, in which small-level rising structures continue to form through small-level shocks and continue to push up prices. However, from a technical perspective, although it has exceeded US$46,666, it has not exceeded the high of US$49,027.5, and the probability of a correction is relatively high. There are two scenarios for the future trend: In the first case, the high level fluctuates back to the $43,666 area to form a buying point, and then rises to $49,000 again; The second one is to fluctuate in the 47433-47000 US dollars area, forming a new small-level rising structure and then reaching a new high. We believe that the first option is more likely, with a larger recent increase and a higher chance of correction. Forming a new buying point at $43,666 is more conducive to subsequent healthy increases. However, we need to flexibly adjust our views according to structural changes, and we will continue to follow the situation and share in-depth insights. In addition, today is the Spring Festival of the Year of the Dragon. Big Pie Observer is here to wish you all a happy New Year! Thank you very much for your attention and support to Big Pie Observer. On the occasion of the Spring Festival, I wish you all a prosperous New Year in the Year of the Dragon. Good luck, peace and happiness, and good health to your family! Everything you go on is smooth, everything you ask for comes true, the dragon travels smoothly, the future is clear!
Pie market observation on February 8, 2024 Yesterday, the pie started to form an upward trend from $42,763.4, reaching a maximum of $45,488, an increase of 6%. This has verified our judgment that the support of US$43,111 was firmly established in our analysis on February 6 and 7, and it has successively exceeded the two pressure levels of US$43,333 and US$43,666. Bitcoin is expected to continue upward, with a target of US$45,000. The current market is in line with our expectations at the time, and the upward continuation target has reached a maximum of $45,488. The increase exceeded the expected 1%, and the trend is relatively strong. From a technical perspective, there are two potential trends in the future: First, it continued to reach $46,666 and then fell back to the $43,666 area, forming a new buying point with a target of $49,000; The second is to continuously form a small-level rising structure through small-level shocks and continue to push up prices. We believe that the probability of the first scenario is relatively high. It will continue to reach $46,666 and then fall back to the $43,666 area, forming a new buying point with a target of $49,000. But please adjust your strategy in time according to structural changes. We will continue to follow up and share our latest thoughts. Please pay attention to transaction security.
Today, the market fluctuated within the range of 43314.9-42763.4 US dollars, with an amplitude of only 1%, and the amplitude narrowed.
This is consistent with the second situation we analyzed yesterday, that is, it failed to break through and stabilize the pressure level of $43,333, and $43,111 failed to support the downward shock.
The key points for the market outlook are:
1. Whether the US$43,111 will stand firm to form a new Support;
2. Whether it can effectively break through the pressure levels of $43,333 and $43,666.
The Spring Festival is approaching, and the market direction may be clarified during the holiday.
We believe that standing at $43,111 can become a new support, and the possibility of starting an upward trend is high.
However, it is difficult to draw a conclusion on the current situation, and it is necessary to continue to observe changes in decision-making indicators.
We will focus on monitoring the market outlook and share new insights with you as soon as possible.
Investors are requested to maintain a rational and prudent attitude.
February 6, 2024, pie market observation #BTC! In the past two days, the market continued to fluctuate in the range of 43333-42444, which is consistent with the judgment on February 1. Although the fluctuations are large, fortunately, through continuous fluctuations, the mid-level rising structure has begun to take shape. The next step is to pay attention to whether a new buying point is formed. From a technical perspective, there are two possible trends: First, if the support of US$43,111 is firmly established and it can successively break through the two pressure levels of US$43,333 and US$43,666, Bitcoin is expected to continue upward, with a target of US$45,000; Second, if US$43,111 cannot be supported, a longer period of shock consolidation will be needed. Personally, I think the first possibility is higher. As long as $43,111 can become the new support, the upward trend is about to begin. However, views must be flexibly adjusted based on subsequent price and volume dynamics. We hope you will pay close attention as we will continue to share our latest judgments and suggestions.
Over the two days over the weekend, the market continued to fluctuate within the range of $43,333-42,444, which is in line with our judgment and analysis on February 2. The amplitude of Bitcoin narrowed during the two days over the weekend, and the fluctuation range narrowed to less than 2%, and the market overall stabilized. .
From a technical point of view, the weekend shock consolidation effect is not good. Although the small-cycle rising structure was formed, the mid-term structure failed to take shape at the critical moment.
From a technical perspective, this trend has the tendency to end the rebound trend, so double observation is needed in the future.
It is necessary to pay close attention to the market outlook and adjust strategies in a timely manner according to structural changes.
It is difficult to draw a conclusion at present, and it is recommended to adopt a more cautious wait-and-see attitude.
We will continue to analyze and track the market and share our insights with you as soon as possible.
Livermore also said: Don't try to sell at the last minute or buy at the first opportunity. They are too expensive and have cost stock traders millions of dollars, enough to build a highway across the American continent.
Today, the market price reached as high as US$43,430 and then fell back to close at US$42,512.7, with an intraday amplitude of 2%.
This move is in line with our previous judgment, and the price may fluctuate and escalate in the range of $43333-42444 to form a new structure. Although the highest point has exceeded $43,333, it has not effectively stood firm and the pressure level is still established.
From a technical perspective, a small-level rising structure of $43070-43006 has been formed, but the level of the rising structure is too small and the increase is limited.
We judge that the market will continue to fluctuate in the price range of 43333-42444 US dollars in the next two days, and may form a relatively complete mid-level rising structure.
Everyone, have a good rest over the weekend and we will continue to monitor market changes.
If a new structure is formed, it will be updated and shared as soon as possible.
The market reached a high of $43,748.6 in the early hours of this morning and then quickly fell back, hitting a low of $41,866.8, with an amplitude of 4%.
This is in line with our early judgment: We are currently in a callback crossover period, a new upward trend has not yet formed, and may be accompanied by multiple shocks. For two consecutive days on January 30 and 31, we issued early warning advice to temporarily wait and see how the situation changes.
The overall technical situation is unfavorable, forming a small-level downward structure. According to the trend, we adjusted the pressure level from $43,666 to $43,333.
New support has yet to form. It needs to be pulled back below $42,222 for retesting, or the range of $43,333-42,444 may be upgraded to form a new foundation.
At present, there are two possible directions:
The first is: testing $42,222 and then pulling back to form a new upward structure;
The second is: the range of 43333-42444 US dollars fluctuates and escalates, and gradually moves upward to form an upward structure.
Personally, the second possibility is more likely. However, it is still recommended to wait and see during implementation to avoid falling into the trap caused by market fluctuations.
We will continue to analyze and track market trends and update our views and suggestions as soon as possible.
Observation of market trends on January 31, 2014 #BTC
After the market briefly exceeded $43,888 yesterday, it quickly fell back to $42,341 today, with an intraday amplitude of 3.5%.
This is consistent with our previous analysis that $43,666 will be the key position. Yesterday we suggested temporarily taking a short position and waiting to see how the situation changes.
From a technical structural point of view, the price is currently in a callback crossover period. But a new upward trend has not yet formed. The recent range of 43,800-42,341 US dollars may be accompanied by multiple shocks.
Whether it can stand firm at $43,666 will determine whether it ends the rebound or starts a new round of reversal trend?
As for whether this rebound is over, the conclusion is not yet clear. Further observation is needed to see whether it can re-shoot higher in the upper area or form a new upward structure.
Investors, please stay calm and determined and do not follow the crowd. Pay attention to structural changes and adjust strategies in a timely manner. The market exists every day, and trading is a lifelong matter. It is not just a matter of doing one transaction and then quitting it.
We will update the analysis as soon as possible based on structural changes and provide a more in-depth reference for judgment. During periods of market volatility, please pay attention to controlling your positions.
Pie market observation on January 30, 2024 #BTC Yesterday, after gaining support at $41,768.3, the market broke through the resistance of $43,666 and rose to $43,888. This is in line with our judgment yesterday that the $41888-41744 range formed support. However, the price failed to stabilize at $43,666. Friends who watched our update yesterday have already made quite good profits by opening a position. There are two possible trends in the future: The first is to pull back to $42,866 or even lower to form a new upward structure, and then to attack and stabilize at $43,666. The trend changes from rebound to trend reversal. The second is that if a new structure cannot be formed to continue the attack, the rebound may end. We believe that the first possibility is more likely to fall back to $42,866 or even lower to form a new upward structure, and then attack and stabilize at $43,666. The trend will change from a rebound to a trend reversal. As for the current competition for the position of $43,666, it is recommended to wait and see how the situation changes. The market exists every day, and trading is a lifelong matter. It is not just a matter of doing one transaction and then quitting it. It is necessary to maintain composure amid market fluctuations and make scientific decisions based on structural changes.