11.19 Market Analysis

$BTC tested the trend support line below several times yesterday, and the supply is still there. But it seems to be absorbed all the time. The highs in the past three days are still rising, and the lows are also getting higher

Looking up:

In terms of a larger cycle, taking the low point of around 15,000 and the Fibonacci model of the last bull market of 69,000, the upper pressure position is around 102,000

At such a high point, there is no extreme door-drawing market, but it is in a range of shocks, which is very likely to be the first supply in Wyckoff theory

Looking down

Before the overall trend changes, the support effect of the three positions of 85,700, 82,000, and 76,200 is particularly obvious

Personal opinion:

Looking up

This trend line is bound to fall, but before that, it seems that the absorption of the supply at the current position seems to be more like a preparation for the storm before the 100,000 mark comes.

When BTC reaches the 100,000 mark, the media traffic will be exposed, and it seems that It seems that BTC can come out of a more terrifying climax, which will be a milestone for the entire web3 industry.

Whether the main force will do so at that time is still unknown, but I think if there is not even a decent callback, just such a small fluctuation, it is a very scary thing to rush directly to 100,000.

Looking down

If this is broken with the gentle trend line, as long as it does not fall below the strong bottom support of 76,200, the current position will oscillate back and forth to absorb the energy of the short order, as if it is going to the top, but it will torture the patience of the air force back and forth.

Once it falls below, it may be a matter of several big negative lines. After all, the air force has accumulated an emotional release for so long, and it is still going to the three key positions of 85,700, 82,000, and 76,200, of which 82,000 is only a very small soft support.

Be careful of risks! Be careful of risks! Be careful of risks!

#BTC