On November 24, 2011, BTC reached a historical high of 81,500. The risk of a short-term pullback has increased, so don't FOMO; be patient and wait.

CN
10 days ago

Bitcoin has once again reached a new high around 81,500. In a bull market, we do not talk about tops and do not short; human nature is greedy. Bitcoin has not yet peaked; in the short term, we have seen a nearly 50% increase from the 55,555 spike to 81,500, which is a rise of 26,000 points. It is recommended to take profits in batches, locking in 30%.

In the fourth quarter, we expect to see 80,000 to 100,000. It reached 80,000 in the second week of November, which relieved me, a long-term bullish investor. The next key level of 100,000 has always been the obsession of us long-term investors through previous bull and bear markets, and it also marks a new phase for Bitcoin.

Ethereum has shown a clear top divergence, and after rebounding nearly 900 points from 2,360, it has increased by 37%. The 4-hour MACD has continued to diverge since breaking above 2,800, and it is about to enter a dense trading zone. The ETH/BTC exchange rate has also seen a pullback; we should patiently wait for a buying opportunity after the pullback.

Bitcoin

The next major cycle resistance for Bitcoin is between 84,000 and 85,000, and above that is 96,000 to 100,000. Currently, we are also entering a crazy FOMO phase, with a short-term spike to 81,730. After a drop to 78,473 in the early morning, it rebounded. It is possible that it will continue to rise, but it is recommended to trade short-term, entering and exiting quickly to lock in profits.

The 4-hour chart has shown a pullback after breaking through the ascending channel; as long as it does not fall back inside the channel, the trend remains unchanged. We need to pay attention to whether the MACD shows a bottom divergence. The RSI indicator has entered the oversold area, currently at 89, close to the previous high of 94.57 before the drop to 73,777. In a bull market, we do not talk about tops and do not short; breaking through one high will lead to the next. Moving forward, it is only recommended to trade short-term fluctuations, entering and exiting quickly to secure profits.

Support: Resistance:

Ethereum

Ethereum touched 3,248 and then spiked to 3,069 before rebounding. As of the time of writing, it is still strong around 3,200, but the 4-hour MACD shows a clear top divergence. If a doji candlestick forms today, it indicates that the upward momentum is somewhat exhausted, and the RSI indicator has also entered the oversold range.

We have now entered a phase of altcoin recovery, including ORDI, SATS, STX, ETHFI…

Support: Resistance:

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The article is time-sensitive and for reference only; it is updated in real-time.

Focusing on K-line technical research, we aim to win global investment opportunities. Official account: Trading Prince Fusu

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