Cryptocurrency Market Analysis by Liying: Bitcoin Fluctuates on 10.28! Short position entered at 68000, future trends are thrilling! Latest market analysis

Article published on 2024.10.28—02:20

Current Bitcoin price is 67700. Yesterday, Liying suggested a low long position that did not materialize. Before publication, a short position at 68000 has already been entered. The next step is to wait for the market to settle and see if Liying's strategy is correct. It is not recommended to hold short positions for too long; around 67000, one should exit. Therefore, Liying reminds everyone to take profits when available. Let's look at the current market situation.

Liying first analyzes the price trend. The current candlestick pattern shows a long upper shadow on the 25th, indicating strong selling pressure. The recent candlesticks have shown slight fluctuations, stretching to 6800, where a clear exhaustion of bullish momentum is observed. Therefore, a short position can be entered. The technical indicators MACD currently show both DIF and DEA as negative values, but the MACD histogram is gradually shortening, which may indicate a weakening of the downward momentum.

The Relative Strength Index (RSI) hovers around 50, not entering the overbought or oversold zones, indicating that the market is in a swing phase. The trend indicator EMA price is currently above EMA7 but close to it, while EMA30 and EMA120 are still trending upwards. The overall trend remains bullish, but there is a clear pullback. Short positions can capture a wave of correction; one should not only look for long opportunities. It is essential to be flexible and seize the available space. Only the loach can survive in the crevices. After the market's transaction volume rises, profit-taking behavior occurs, so Liying chose to enter at 68000. For those who have not entered, it is still recommended to focus on low long positions.

Today's point prediction: Bullish

Long entry at 67000, add long at 66000, stop loss at 65500, target 68000.

Short entry at 68000, add short at 69000, stop loss at 69500, target 67000.

Reason: There is significant support near the previous point of 67000, and it is a round number close to EMA120, making it the first entry point. The second entry point at EMA120 should not be hesitated upon; if it breaks, then consider a stop loss. The previous high has clear selling pressure, and even if it breaks the previous high, it will face significant resistance at important levels. As long as the psychological barrier is not broken, a high position short is also viable. Remember, safety first. The content of this article is time-sensitive and for reference only; risks are borne by the reader.

The above is Liying's brief analysis of the current market situation for investors' reference. Over the past ten years, Liying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Liying has witnessed the brilliance of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons along the way. As a female trader striving in this challenging field, Liying feels a responsibility to share her insights, hoping to assist others with dreams in finding their place in this unpredictable market and embarking on their own successful journey.

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