The Bitcoin holding giant MicroStrategy, a publicly listed company in the United States, announced last night that after increasing its holdings by 27,200 Bitcoins last week, it has once again purchased 51,780 Bitcoins at an average price of $88,627, using $4.6 billion in funds! As of November 7, 2024, MicroStrategy holds a total of 331,200 Bitcoins, with a total purchase cost of approximately $16.5 billion, resulting in an average holding price of $49,874 per Bitcoin.

In the cryptocurrency sector, Bitcoin has experienced a volatile trading pattern, with a total liquidation amount of $336 million across the network in the past 24 hours. Long positions accounted for $203 million in liquidations, while short positions accounted for $133 million, affecting over 110,000 traders.

Around 10 PM last night, Bitcoin dropped to a low of $89,375 before starting a rebound, reaching a high of $92,644 close to midnight. However, selling pressure emerged, causing Bitcoin to fluctuate between $90,000 and $92,000, continuously washing out positions. As of the time of writing, the price is quoted at $91,627, down approximately 0.12% in the last 24 hours.

Bitcoin Daily Chart

First, according to the Bollinger Bands indicator on the Bitcoin daily chart, the current price has broken through the upper band, indicating that the market is in an overbought state. After a significant breakout above the upper band, there may be a risk of a pullback. The Bollinger Bands are opening, suggesting that market volatility will increase and the trend may continue.

Second, based on the MACD indicator on the Bitcoin daily chart, the DIF line has crossed above the DEA line, forming a golden cross and is above the zero axis, indicating that the current market is still in a bullish trend. The MACD histogram is expanding to the top, showing that the bullish momentum is strong.

Finally, according to the KDJ indicator on the Bitcoin daily chart, the K and D values are at high levels, and the J value exceeds 100, indicating a serious overbought condition, which requires caution for potential short-term pullback risks.

Bitcoin Four-Hour Chart

First, according to the Bollinger Bands indicator on the Bitcoin 4H chart, the current price is between the middle and upper bands, indicating that the bullish trend still exists, but the momentum is weakening. The Bollinger Bands are slightly narrowing, suggesting that market volatility may decrease, and the price may enter a period of consolidation or range trading.

Second, based on the KDJ indicator on the Bitcoin 4H chart, the K and D values are hovering in the neutral zone of 50-70, indicating that the market has not yet entered an overbought or oversold state. The J value shows a slight downward trend, indicating that short-term market momentum has weakened, but the trend reversal signal is not yet clear.

Finally, according to the MACD indicator on the Bitcoin 4H chart, the DIF line is approaching the DEA line, accompanied by the appearance of a MACD green histogram, but the bars are relatively short, indicating that the current bearish momentum is weak. If the DIF line crosses below the DEA line, forming a death cross, there will be pressure for a pullback in the short term. However, the MACD is still operating above the zero axis, indicating that the overall bullish trend has not been broken.

In summary, the market is in a clear upward trend, supported by the Bollinger Bands, MACD, and KDJ indicators. However, multiple indicators show overbought signals, suggesting potential pullback pressure in the short term.

Based on the above analysis, the following suggestions are provided for reference:

Suggestion 1: Short Bitcoin near 92,600, targeting 91,000, with a stop loss at 93,000.

Suggestion 2: Long Bitcoin near 90,800-91,000, targeting 92,600, with a stop loss at 90,450.

Instead of giving you a 100% accurate suggestion, I prefer to provide you with the right mindset and trend. After all, teaching someone to fish is better than giving them fish; suggestions may earn you temporarily, but learning the mindset will help you earn for a lifetime! The focus is on the mindset, grasping the trend, and planning positions. What I can do is use my practical experience to help you make investment decisions and manage operations in the right direction.

Writing time: (2024-11-19, 16:50)

(Written by - Master Says Coin) Disclaimer: Online publication has delays, and the above suggestions are for reference only. The author is dedicated to research and analysis in the fields of Bitcoin, Ethereum, altcoins, forex, stocks, etc., with years of experience in the financial market and rich practical operation experience. Investment carries risks; please proceed with caution. For more real-time market analysis, please follow the account Master Says Coin for discussion and exchange.

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