As a veteran in the cryptocurrency space, I have been deeply involved in this captivating and challenging industry for many years. Having experienced the ups and downs of the crypto market and witnessed the rise and fall of countless cryptocurrencies, I have accumulated rich practical experience and unique market insights. Investing is a long-term practice, and this is especially true in the cryptocurrency space. Continuous learning and improving one's cognitive and judgment abilities are essential to navigate this challenging field steadily.

Old Yang from the Crypto Circle: Bitcoin Market Analysis on November 19, 2024

Bitcoin once climbed to 92,700, and the current market is fluctuating, pulling back after a high. Bitcoin is now stable around 92,000. The hourly chart shows that the MACD green bars are gradually expanding, and the moving averages are crossing below the middle line of the Bollinger Bands, indicating a high probability of further decline in the afternoon. Bitcoin support is around 90,000, so pay attention to support during the afternoon session, and it is advisable to operate with high short and low long positions.

The four-hour K-line tested the upper pressure multiple times yesterday before pulling back to the EMA30 support level of 89,700. The MACD shows significant top divergence and a decrease in volume, while the Bollinger Bands are gradually narrowing, forming a decision point for direction, with the upper band at 92,000 and the lower band at 89,600. The four-hour naked K-line is trapped in a triangular trend. Based on comprehensive trading volume analysis, the main force may need to adjust and accumulate. The operational strategy could involve lightly shorting after a high, with a proper stop-loss set.

Short-term Strategy:

Short from 93,000 to 94,000, add to the position at 95,000, with a stop-loss of 500 points, targeting 90,000.

Long from 90,500 to 90,000, add to the position at 89,000, with a stop-loss of 500 points, targeting 92,000.

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Trading based on this analysis is at your own risk; investing carries risks, and caution is advised when entering the market.

This article is exclusively planned and published by Old Yang from the Crypto Circle. For more real-time investment strategies, spot contract trading techniques, and operational skills, you can consult me for learning and exchange. I have focused on BTC, ETH, and altcoin spot contracts for many years and hope to help you achieve remarkable results!

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