Cryptocurrency Circle Liying: November 19th is just waiting for the competition! Bitcoin enters a surge mode to refresh historical records? Latest market analysis

Article published on 2024.11.19 ---- 08:40

Current price of Bitcoin is 90,800. Congratulations to everyone for successfully bottoming out at 89,000, and also congratulations to everyone for smoothly shorting at 92,000. Both positions are relatively obvious resistance and support points. Although the main strategy is to go long at low prices, the high position short is aimed at quick in-and-out, exiting at 90,000. However, combining both long and short, there is a space of 5,000 points, which is quite good to take profit.

From the price trend analysis, Liying observes that the current K-line pattern fluctuates within the range of 90,000 to 92,000, forming a clear oscillation and consolidation pattern. Liying has noticed multiple long upper shadows appearing on the daily K-line, indicating strong selling pressure above. In the technical indicators of the 4-hour MACD cycle, the DIF and DEA are close to the zero axis, and the MACD histogram has turned from negative to positive, suggesting signs of a short-term rebound. However, the overall trend remains unclear, so caution is needed when entering the market; do not act on feelings alone.

The current Relative Strength Index (RSI) is between 50 and 60, not entering the overbought or oversold zones, indicating that the market is in a relatively balanced state. The balance point reveals the monsters, which Liying refers to as the calm before the storm. The trend indicator EMA shows that the current price is above EMA7 but close to EMA30, while EMA120 is far below the current price. The long-term trend remains upward, but short-term may face adjustment pressure. Therefore, there should be an awareness of potential downward pullbacks in the short term. Although the larger trend is bullish, the short-term outlook is for a correction. The entry point should be discussed after the pullback; for now, wait for the direction to become clear before taking action.

Today's reference points:

Long entry at 90,000, stop loss at 89,000, take profit at 92,000.

Short entry at 92,000, stop loss at 93,000, take profit at 90,000.

The above analysis by Liying is based on market data and trend analysis of the order book, 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 and hopes to help others with dreams find their place in this ever-changing market and embark on their own successful journey.

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