After 11.8 BTC continuously broke new highs, there was no acceleration; beware of a deep correction.

CN
2 days ago

Today's BTC Analysis:

  • In the analysis from the day before, it was mentioned to look for a pullback before considering a bullish trend, directly suggesting a short position around 75400-75500, which dropped to the 74500 level, gaining some space. Unfortunately, the anticipated bullish position at 74200 was not reached, and after a second touch at 74500, a rebound occurred.

  • News Focus:

  • The Federal Reserve's interest rate decision announced at 3 AM met expectations with a 25 basis point rate cut. CME shows a 70.5% probability of another 25 basis point cut in December. Overall, the data had already been digested before the announcement, and there was not much significant volatility afterward!

  • Bitcoin continued to rise in the early morning, breaking a high once but did not accelerate further after reaching 76800, leading to a pullback;

  • From a daily perspective, although there is still momentum to break higher, the pattern does not indicate much continuation. Pay attention to the weekly close; there may be an opportunity to extend the bullish momentum next week!

  • There is still space above, but don't overthink it. In the next two days, I will provide the escape point for this round of increase, so everyone remember to pay attention!

  • For Bitcoin, it is recommended to look for a short position around the current price of 76000-76200, defending the new high, with a target of 75000-74500;

  • On the downside, pay attention to the two support levels at 74500 and 73500. 74500 is the starting point for breaking the new high after the second retest, while 73500 is the position for the top-bottom conversion of the previous high. After stabilizing in this support area, a bullish outlook can be considered. The market is ever-changing, so pay attention to real-time alerts for specific layouts!

 For more free real-time investment strategies, trading methods, operational skills, and knowledge about candlesticks, you can scan the code to follow (WeChat public account: Trend Thought Notes)

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