Old Yang from the crypto circle: Bitcoin 11.26, short-term long positions hold firm, analysis of the trap for shorting under the support of the big trend and market analysis.

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7 hours ago

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 26, 2024

The current Bitcoin market shows that the daily line fluctuates within the range of 99600 - 92600, with the EMA12 trend fast line support at 93165, which is still changing. In the coming days, it may converge with the K line to form a key support level. The MACD shows a reduction in volume, with a top divergence, and the DIF and DEA are contracting at high levels, indicating the possibility of sharp rises and falls. The upper pressure level of the Bollinger Bands is at 103000, while the middle support stretches above 89000. The KDJ is expanding downwards, signaling the end of the overbought market and entering a consolidation phase. Overall, the bullish trend still exists, and a pullback presents an entry opportunity.

The four-hour Bitcoin chart approaches the rising trend support at the 94300 point, where it intersects with the EMA60. The MACD shows a decrease in volume and is moving downwards, with the DIF and DEA diverging at high levels and nearing the 0 axis. The KDJ shows a death cross, and the smaller indicators are in a bearish state. However, the larger trend remains bullish, so the main strategy should be to go long in line with the trend, looking for support points to enter long positions during the smaller bearish phase. Treat pullbacks as a trap for shorts, go long at key support levels, and set stop losses; if wrong, do not hold the position.

Short-term Strategy:

Go long from 92500 to 91500, add to positions at 90000, stop loss at 500, target 96500.

Go short from 98000 to 98500, add to positions at 99200, stop loss at 500 points, target 96800.

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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