Bitcoin Market Analysis and Trading Suggestions on November 22 (Written at 6:55)
The current price of Bitcoin (BTC) is around 84,400. Yesterday, I mentioned that Bitcoin would continue to break below the EMA250 and move into a bearish trend, and this has been validated again. During the day, it completed a drop of over 9%, directly falling to around 80,600, forming a rebound. It then encountered resistance at the EMA30 of the 1H channel, leading to another pullback. Currently, the candlestick is at the middle band position. I suggest that those who bought at the bottom can reduce their positions to take profits. The KDJ and RSI indicators are showing high-level turning signals, indicating significant short-term pressure. The market may enter a range-bound fluctuation, so you can lock in some profits and wait patiently for a breakout above the upper band! For support, pay attention to the lower band around 82,000; if it holds, you can consider entering long positions.
In the 4H chart, rebound signals are also clearly visible. Both KDJ and RSI are showing a convergence upwards below 40, and the MACD is moving up with reduced volume below the zero axis. The DIF and DEA are still converging, indicating potential technical rebound space. However, the overall trend remains bearish, so for short positions, you can focus on the EMA15 position and whether the first convergence of DIF and DEA can be successful before entering. I believe that after such a significant drop, chasing short positions is not realistic. It’s better to maintain a light position and try to go long on pullbacks!
Sell Points: ≥86,800 light short, stop loss above 88,000; take profit at 85,500-84,300-82,500. If it breaks below 82,000, you can continue to hold.
Buy Points: ≤82,500 light long, stop loss below 81,500; take profit at 84,000-85,500-86,800. If it breaks above 88,000, you can continue to hold.
The article review and push may have delays, and the above points are for reference only. Please grasp the timing of buying and selling yourself, and ensure proper risk control when entering the market. Do not operate with heavy positions! Thank you for reading!
Thus, our journey in the cryptocurrency world begins to move towards a broader new starting point, and it is by no means an endpoint, as the road ahead is long and must be walked step by step! The ocean of cryptocurrency is vast and boundless, filled with opportunities and challenges. I hope that in the days to come, you will always maintain a thirst for knowledge and a spirit of exploration for the unknown.
Remember, the cryptocurrency world is not just about numbers and charts; it is an art about humanity, decision-making, and the future. In investing, maintain rationality and calmness, do not be swayed by short-term fluctuations, and view the market with a long-term perspective. Keep learning and enhance your professional skills. Knowledge in the financial field is constantly updating; only through continuous learning can you keep pace with the times and seize every opportunity. Be brave to try and innovate. Do not fear failure, as every failure is an opportunity for growth. In the world of cryptocurrency, the brave often carve out their own territory. Finally, I wish you all shine on the stage of cryptocurrency, realizing your value and dreams. Wherever you are, I am cheering for you and looking forward to your wonderful performance. I wish everyone smooth sailing on the cryptocurrency journey and a bountiful return!
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