Liying in the Crypto Circle: The Light of Faith Shines on Bitcoin at 11.7! Can the Crazy Surge Continue? Latest Market Analysis

Article Published on 2024.11.7 ---- 09:35

Current price of Bitcoin is 75950, the light of faith shines on every person in the crypto circle. There was a bull market, and we witnessed history. Liying positioned in the mid-term at over 68400, finally exiting at 75200. Last night, preparations went on until late, and after Bitcoin broke 76400, it began to retrace. The neckline at 75000 seems to be hard to hold, so we can only use this as a base point to build and then take profits. Liying has always reminded everyone to follow the trend; as long as you learn to go with the flow, you will definitely reap the benefits of the times. This time, it has well-validated what Liying said about following the trend. The trend remains bullish, and the support point on the retracement can still be a buying opportunity.

First, let's look at the price trend. The current candlestick pattern clearly shows an upward trend, especially with a significant surge when the "King of Understanding" took the stage yesterday. In the 4-hour cycle, the candlesticks have repeatedly closed at high positions, indicating strong market characteristics. The MACD technical indicator in the 4-hour cycle shows that the histogram remains positive and is gradually increasing, indicating strong upward momentum. Both DIF and DEA are diverging upwards, so Liying remains bullish.

The Relative Strength Index (RSI) is above 70, entering the overbought zone, but there are no signs of a pullback yet, suggesting it may continue to maintain strength. The trend indicator's short-term EMA7 has quickly crossed above the long-term EMA30 and EMA120, forming a golden cross, further clarifying the upward trend Liying mentioned. The current price is far above all EMAs, showing a strong upward trend. The strategy remains to buy on the retracement support, and in the 4-hour cycle, the trading volume has increased during key upward periods, validating the effectiveness of Liying's analysis.

Today's Reference Points:

Buy Point: 75000, Stop Loss: 74000, Take Profit: 76500

Sell Point: 76500, Stop Loss: 77500, Take Profit: 75000

Reason: Liying's first target for buying is the previous low support point, with the stop loss at the trend line EMA30. If it breaks, take the stop loss. The main strategy is to go long with the trend, while the short reference is mainly for aggressive traders; conservative traders can avoid shorting. The content of this article is time-sensitive and for reference only; risks are borne by the reader.

The above analysis is based on market data and trend analysis from Liying, 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 unpredictable market and embark on their own successful journey.

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