Cryptocurrency Circle Liying: Bitcoin on the Windfall of 11.17! Bullish, Not Bearish! Latest Market Analysis

Article Published on 2024.11.17—02:00

The current price of Bitcoin is 91,000. First, let's review yesterday's market trend, which was almost a whole day of consolidation at a high level, with a maximum not breaking 92,000 and a minimum not breaking 90,000. The bullish trend has been strengthening, so Liying's consistent approach has been to buy on dips, which remains unchanged. This strategy is still valid as long as the key support is not broken.

Looking at today's market, first from the price trend analysis, the current candlestick pattern clearly shows an upward trend, which everyone can see. The premise is not to deceive oneself, especially from the 13th to the 15th, when it rose from 87,670 to 91,032, with a long lower shadow appearing on the 14th. Therefore, Liying judges that there is strong buying support at the low levels. The technical indicators MACD currently show both DIF and DEA as negative values, but the gap is narrowing, and the MACD histogram is gradually weakening. It is evident that the bearish strength is diminishing while the bullish trend continues.

The Relative Strength Index (RSI) is currently close to 60, in a neutral to strong area, not yet entering the overbought zone, indicating there is still room for upward movement. The trend indicators show that the short-term EMA7 is above the medium and long-term EMA30 and EMA120, which is a typical bullish trend. Therefore, Liying sees an upward trend, with trading volume significantly increasing alongside the price, indicating heightened market activity and a bullish advantage.

Today's Liying Point Predictions

Buy point at 90,000, add to buy at 89,000, stop at 88,500, target 92,000.

Sell point at 92,000, add to sell at 93,000, stop at 93,500, target 90,000.

The above is Liying's brief analysis of the current market situation for investors' reference. Over the past ten years, Liying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Liying has witnessed 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.

The content of this article is time-sensitive and for reference only; risks are borne by the reader.

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