Cryptocurrency Circle Li Ying: Giants in Action on 11.13! Bitcoin Prepares to Sprint to New Highs After Pullback! Latest Market Analysis

Article Published on 2024.11.13 ---- 08:30

Current Bitcoin price is 88150, which reached a historical high of 90000 yesterday, pulled back to 85000, and then returned to 90000. The price has been constrained by the resistance level at 90000 twice. Reviewing yesterday's strategy, Li Ying chose not to short but to wait for a pullback, entering at 86000 to gain 3500 points. In these days, standing at the forefront and grasping the trend has been quite easy. With such a clear trend, as long as one does not overthink and follows the trend, it is enough to reap substantial rewards.

Looking at the current price trend, Li Ying still analyzes from the K-line pattern. The current upward trend is very obvious, especially in the past few days as the price stretched to the 90000 mark. There was high-level volatility yesterday and the day before, with the highest price approaching 90000 but failing to break through, forming short-term pressure. The technical indicator MACD is in the bullish zone on the 4-hour cycle, with both DIF and DEA being positive and continuing to rise, indicating that the current market still has some upward momentum. Li Ying's strategy remains to primarily go long on pullbacks to support, with shorts as a secondary option.

The Relative Strength Index (RSI) briefly entered the overbought zone at 90 on the 4-hour cycle but has slightly retreated to 72. From here, Li Ying can judge that there is a demand for a pullback in the short term, but it is not absolute. Therefore, in the bullish trend, Li Ying chooses to wait for opportunities, entering long after the pullback adjustment. The EMA trend indicator shows a bullish arrangement, and the upward trend remains unchanged. The trading volume has noticeably decreased, and the main force is likely to consolidate at high levels in the short term, with fluctuations exceeding a thousand points.

Today's Reference Points:

Long Entry at 86000, Stop Loss at 85000, Take Profit at 88800

Short Entry at 90000, Stop Loss at 91000, Take Profit at 88000

The above analysis by Li Ying is based on market data and trend analysis and is for reference only, not constituting investment advice. For family members' reference. Over the past ten years, Li Ying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Li Ying 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, Li Ying 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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