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 29, 2024

Today's Bitcoin market shows a daily line reaching 96,000, with an overall slow decline and an almost sideways trend. The EMA12 trend line is still extending, having reached 93,929. The MACD continues to decrease in volume, with the DIF and DEA diverging at high levels. The Bollinger Bands are contracting, with the middle band moving up from 90,500 to 92,000, and the upper band dropping to 101,000. The KDJ is in a contracting state. Investors must pay close attention and not let their guard down in this seemingly stable slow decline pattern; strategies should be adjusted in a timely manner based on indicator changes.

The short-term high point of Bitcoin on the four-hour line has been established at 96,200. The next time it tests this level, a short position can be set. The EMA12 trend indicator and 26 intersect at 95,000, indicating an overall trend contraction. The key resistance level is the previous high of 97,200. The MACD shows an increase in volume while the gradient decreases, with the DIF and DEA's upward movement being constrained by the 0 axis, leading to a contraction. The Bollinger Bands have entered a descending channel, with upper band resistance at 97,000 and lower band support at 91,300. Currently, we are at a short-term crossroads; although the short-term is in a descending channel, the bullish trend has not ended. If it does not break 90,000, we can go long, while a short position can be defended at 97,000. It is crucial to set stop-loss orders and respond cautiously to market changes.

Short-term Strategy:

Short from 97,200 to 97,800, add to position at 98,500, stop-loss at 500 points, target 94,500.

Long from 91,500 to 92,000, add to position at 90,500, stop-loss at 500 points, target 94,500.

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Trading based on this information 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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