Liying in the Crypto Circle: 11.6 Bitcoin K-line Slaps the Bears! Bullish Strength is Strong, Can It Duplicate the Miracle of Doubling? Latest Market Analysis

　　Article Published on 2024.11.6 ---- 07:30

　　Current Bitcoin Price: 69,770. A non-standard bullish pattern has appeared in the small timeframe, with the market moving much faster than expected. Liying will still start with price trend analysis. Currently, the K-line is oscillating at a high level, with the tug-of-war between bulls and bears causing increased market volatility. A long bullish candle has appeared on the daily K-line chart, indicating strong buying power in the short term, and the bullish momentum is quite evident.

　　Technical Indicators: The MACD histogram on the 4-hour cycle has turned from negative to positive, and the DIF line is moving upward towards the DEA line, showing bullish signals. However, it is still necessary to monitor whether it can sustain the breakout; if it does not break, a pullback will occur. If it breaks, a one-sided market may form. The current RSI value is 55.1, in the neutral to strong zone, and has not entered the overbought area, indicating that there is still room for upward movement.

　　Trend Indicators: The current price is above the EMA7 and close to the EMA30. If it can effectively hold above the EMA30, it is expected to continue moving upward. The EMA120 is far below the current price, maintaining a good long-term trend. Trading volume has started to increase in recent trading sessions, especially during last night's U.S. market hours when market activity increased. Liying has observed that as the price rises, capital inflow drives the price higher, suggesting that everyone should monitor subsequent changes in trading volume to confirm the continuity of the trend.

　　Today's Reference Points:

　　Long Entry: 68,500, Stop Loss: 67,500, Target: 70,000

　　Short Entry: 70,500, Stop Loss: 71,500, Target: 69,000

　　Reason: Liying chooses to position at the trend line EMA120 support point, with the stop loss set at yesterday's lowest point. A short position above 70,000 will have a stop loss after confirming the bullish breakout. The content of this article is time-sensitive and for reference only; risks are borne by the reader.

　　The above analysis by Liying is based on market data and trend analysis from the order book, for reference only, and does not constitute investment advice. For family members' reference. Over the past ten years, Liying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Liying has experienced 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 help others with dreams find their place in this ever-changing market and embark on their own successful journey.

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