Cryptocurrency Circle Liying: Bullish Wave Hits on 10.29! Strong Buying Behind Bitcoin's Daily Chart! Latest Market Analysis

Article Published on 2024.10.30—02:10

Current Bitcoin Price: 72850. Yesterday, I earnestly reminded everyone that it is still a bullish trend to go with the flow. How many people listened and acted on it? From 66500 to this very moment, congratulations to those who followed along. Remember, in a situation where the trend hasn't changed, always go with the trend, not against it. This advice is effective at any time. Where is the next bullish entry point? Let's look at Liying's analysis.

First, Liying analyzes the price trend. The current candlestick pattern clearly shows an upward trend. The large bullish candles on the 29th and 30th indicate that market sentiment is leaning towards bullishness, so there’s no need to hit a wall. After breaking through previous highs, the price continues to rise, forming new highs, demonstrating strong buying power. The technical indicator MACD histogram continues to expand, with the DIF line crossing above the DEA line and maintaining an upward trajectory. Therefore, Liying still believes the bullish trend is strong and will continue to gain momentum.

The Relative Strength Index (RSI) is in the overbought range and has not shown any signs of a pullback, indicating a strong upward trend that is evident to anyone. At this time, do not deceive yourself; trust what you see. The short-term EMA7 is rising rapidly and has already distanced itself from the mid to long-term EMA30 and EMA120. This upward trend can no longer be described as strong; market sentiment is fully mobilized. Another clear point is that the trading volume on the 29th and 30th saw a large influx of capital actively entering the market, pushing prices up. The involvement of major capital in a volume increase usually indicates the continuation of the trend. We need to pay attention to whether there will be a volume reduction adjustment afterward. Before that, the bullish trend remains unchanged, and we still look bullish.

Today's Point Prediction: Bullish

Long Entry Point: 71000, Add Long at 70000, Stop Loss at 69500, Target at 74000

Short Entry Point: 74000, Add Short at 75000, Stop Loss at 75500, Target at 71000

Reason: Liying chooses the previous pullback low as the first entry point and EMA30 as the second entry point. After breaking EMA30, a stop loss can be considered. After breaking the historical high, there is a high probability of encountering resistance, so 74000 is chosen as the first short entry point, with the second position as an integer level in the historical high area for safety. The content of this article is time-sensitive and for reference only; risks are borne by the reader.

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 successful journey.

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