Coin Circle Liying: Bitcoin trend remains unchanged on November 16, when will the short-selling threat disappear? Latest market analysis

Article release time 2024.11.16—02:15

Bitcoin is currently priced at 89560. The idea given in yesterday's article was that 85500 was not received, 90500 was received, and the target of 87000 was not waited for. After falling below 88000, it rebounded and pulled back to take profits near 88800. The support was not broken but pulled back to break the moving average pressure level. However, the overall space also has 1700 points of space, which is also good compared to the intraday fluctuations.

Judging from the current price trend, the K-line pattern is oscillating at a high level. A long upper shadow line appeared on the 13th, indicating that the upper selling pressure is large. Yesterday and today, the K-line showed signs of rebound, but the overall situation is still below the previous high. The current DIF and DEA of the technical indicators MACD are negative, and the MACD histogram is gradually shortening, indicating that the short-selling momentum is weakening. Liying reminds everyone that the market is likely to form a golden cross again, and the possibility of the big cake hitting a new historical high is not ruled out.

The relative strength index RSI value fluctuates between 50-60, and has not entered the overbought or oversold range. The market sentiment is neutral and bullish. The trend indicator EMA price is currently above EMA7 but close, EMA30 and EMA120 are far below the current price. The short-term trend is upward, and the medium- and long-term trend is still strong. Therefore, Liying's idea is very simple to follow the trend. There is no obvious signal of volume expansion or contraction in the market. The main force has sold some of its chips after the previous pull-up, and it is relatively good to step back. The support point, it is reasonable to stretch again and hit the historical high

Today's Liying point forecast

Long point 88000, 87000 to cover long, stop 86500, target 90000

Short point 91000, 92000 to cover short, stop 92500, target 89000

The above is Liying's brief analysis of the current market conditions for investors' reference$BTC #比特币行情分析