Crypto Circle Academician: 11.12 Bitcoin (BTC): For those who wake up in the middle of the night to check the market on their phones, this article is written for you
As I wrote this, I double-checked the numbers three times. Recently, many people have asked me in private messages, "Can Lao Chen buy the dip now?" My answer is always: you can try, but please use money that you can afford to lose without affecting your life, and write your stop loss in the order in advance. What the market lacks is "I think," but what it lacks is "if I'm wrong, I'll run." Many people increased their positions under the emotion of "thinking it can't drop any further" from the drop of 87000. Once this bottoming process is over, regardless of which side you choose, I hope you are someone who enters the market with a plan, rather than someone being pulled along by a candlestick.
The daily K-line bulls and bears are temporarily deadlocked at this position. However, structurally, it looks bad: the price of 73603 has dropped below the five EMA moving averages, all arranged in a bearish setup, diverging downwards. This is a textbook-level downward trend pattern. The MACD has formed a dead cross below the zero line and the green bars continue to be released, indicating that the downward momentum at the daily level has not exhausted. The lower Bollinger Band at 72840 is currently the last floor, a close above it is strong, but breaking below it requires finding the next support.
The four-hour K-line is similarly pressed below all moving averages, rebounding layer by layer under pressure. Pay attention to two signals: first, the previous low at 72691, yesterday's fall stopped here, today's lowest point of 73357 did not break the previous low, indicating a slight short-term support against the fall; second, the MACD green bars are about to disappear, showing signs of hidden divergence. The lower Bollinger Band at 72859 shows the price moving along the lower band; typically, at this position, it either gently declines to bottom or makes a strong upward move back to the middle band at 74544.
Short-term reference:
For upward movement, resistance is at 72900 to 72500, with a stop loss of 500 points, targeting 73800 to 74500
For downward movement, stagnation is at 74800 to 75300, with a stop loss of 500 points, targeting 74000 to 73500
Specific operations should be based on real-time data from the market. For more information, please consult the author. The publication of this article has a delay, and it is recommended for reference only; risks are borne by yourself.
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