11.21 Bitcoin Breakthrough Slow Increase! Has It Already Topped?
In the past two days, Bitcoin's trend has been following our script. After breaking through the top of this converging triangle pattern, the Bitcoin price has been rising, but the speed of the increase has not been very fast; instead, it has been fluctuating upwards.
From the candlestick patterns in the chart, we can see that the price is still somewhat hesitant during the rising process. Every time it rises, there is a significant pullback, resulting in a lot of bearish candlestick structures.
Currently, as Bitcoin approaches around 94,000 again, the long positions we had previously set up in our member community have successfully taken profits. We entered a long position on the 12th of this month when Bitcoin was around 86,000, and this wave also successfully captured an 8,000-point profit.
We have previously shared our trades showing that Bitcoin rose from 60,000, and we almost never missed an opportunity, continuing to buy during the pullback and capturing the full profit of the rise.
Now, returning to Bitcoin's current market situation, let's analyze the subsequent trend. On the four-hour level, Bitcoin has also shown a new breakthrough trend. According to the recent upward trend of Bitcoin, once such a breakthrough occurs, it is not a problem for the market to rise by four to five thousand points within a day.
So relatively speaking, the current market can feel that the trend of Bitcoin surging after the breakout is not that strong anymore. Of course, from a four-hour perspective, there hasn't been any particularly large pullback trend; it just feels less strong than before at this stage.
However, it is still an upward trend. I believe that if you interpret the market, you can feel a slight sense of crisis, but until there is a clear pullback, I think there is no need for everyone to turn bearish. Our plan moving forward is still to continue to chase the long positions and remain bullish.
