Coin Circle Li Ying: November 20 Bitcoin Trading Volume Expands, Main Capital Activity Increases! Can the Bullish Trend Continue? Latest Market Analysis
Article Published on 2024.11.20—01:00
The current price of Bitcoin is 92,600. Let's review the situation: the market has not retraced, and the bullish trend continues. I have not waited for a specific entry point for long positions and have consistently adhered to the bullish trend, primarily focusing on going long and temporarily avoiding short positions. The two options are either to wait for a pullback to go long or to do nothing. Knowing that the market is currently being pushed up, rationality tells me not to chase the price, and I must restrain my inner greed.
Looking at the current price trend, the K-line pattern is fluctuating within the range of 90,000 to 93,000, forming a consolidation pattern. However, the daily K-line showed a long bullish candle yesterday, indicating strong bullish momentum. Yet, it has since experienced high-level fluctuations, suggesting significant resistance above. Testing the upper pressure, the technical indicator MACD on the 4-hour cycle shows the DIF line and DEA line approaching the zero axis, with the MACD histogram turning from negative to positive, indicating short-term rebound signs. The bullish stretch is evident, but Li Ying still does not recommend chasing the price; it is advised to wait for a pullback to support before acting.
The current RSI value is 60.52, which is relatively high but not in the overbought zone, indicating an optimistic market sentiment. However, caution is needed for potential pullback risks. The trend indicator EMA price is currently above EMA7 and gradually approaching EMA30. If it can effectively break through EMA30, it may further test higher resistance levels, with EMA120 far below the current price. The long-term trend remains bullish. Li Ying's approach is to patiently wait for a pullback before entering the market, as the trading volume on the 19th expanded to 26,577, indicating increased capital activity, suggesting that the main players are starting their celebration.
Today's Li Ying Point Prediction
Long entry at 91,000, add long at 90,000, stop at 89,500, target at 92,500.
Short entry at 93,000, add short at 94,000, stop at 94,500, target at 91,000.
The above is a brief analysis by Li Ying regarding the current market situation for investors' reference. Over the past ten years, Li Ying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Li Ying 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, 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.
The content of this article is time-sensitive and for reference only; risks are borne by the reader.
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