Cryptocurrency Circle Liying: Strong Bullish Sentiment on 11.21! Bitcoin Breaks the Ceiling! The Bull Market Momentum is Unstoppable! Latest Market Analysis
Article published on 2024.11.21—01:25
Current price of Bitcoin is 93,750. Liying here took profits after breaking 94,000 from 91,500, with this wave stretching close to the 95,000 mark, opening a new milestone and once again topping the global market cap rankings at seventh place. At this point, most should have recognized the importance of following the trend. The overall trend has broken, and it remains a bullish trend, so the strategy is naturally to buy on the dips.
From the price trend analysis, the current K-line pattern is fluctuating within the range of 93,000 to 95,000, forming a relatively narrow consolidation area. After high-level consolidation, a new direction will be chosen. The daily chart shows some long lower shadows, indicating that there is certain buying support below. The technical indicator MACD's 4-hour histogram has turned from positive to negative, and the DIF and DEA are close to the zero axis, suggesting a potential need for short-term adjustment. However, Liying wants to remind everyone that the overall trend still leans bullish.
The current Relative Strength Index (RSI) is around 60, in a neutral to strong area, with no obvious overbought or oversold signals. The trend indicator EMA shows the current price is below EMA7 but above EMA30 and EMA120, slightly weak in the short term, but the medium to long-term moving averages are still upward. Liying supports the upward trend, and the trading volume has increased market activity. When the price retraces to around 92,000, the trading volume decreases, indicating reduced selling pressure, and the main force still shows no intention of retracing. Whether there will be a retracement or continued stretching, our principle is to wait for a dip to support and continue to follow the trend.
Today's Liying Point Forecast
Buy point at 92,000, add to long at 91,000, stop at 90,500, target 94,000.
Sell point at 95,000, add to short at 96,000, stop at 96,500, target 92,000.
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 journey to success.
The content of this article is time-sensitive and for reference only; risks are borne by the reader.
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