Cryptocurrency Scholar: On November 12, Bitcoin may once again initiate a battle to defend 100,000! Head south or north? Latest market analysis and short-term strategy reference
Bitcoin's current price is 103,300, and it is now 2 AM Beijing time. The wave of market movements has created a false rally, hitting the second entry point south at 107,000. There is now a space of 3,500 points. It has broken the horizontal support point of the triangular formation at 104,500, so the bearish momentum is likely to continue, and the main force will probably once again challenge the 100,000 psychological barrier. As long as the pullback does not break 104,500, one can continue to hold south and look for new lows.
Before the daily candlestick article was published, the highest point was 107,470, the lowest was 103,135, the top of the range is at the 0.618 line at 106,450, and the bottom is at the 0.5 line at the 100,000 level. MACD shows a decreasing volume with candlestick divergence moving downward, and the DIF and DEA have failed to contract and continue downward, the candlestick hitting the middle of the Bollinger Band before being pushed down. The effective resistance level is 107,700, and the lower support level to focus on is 99,500. The bearish trend remains unchanged in terms of strategy.
The support for the four-hour candlestick at the door is around 101,500. The EMA trend indicator continues to contract, with the 0.786 support becoming resistance. Pay attention to the strength of resistance at the 104,750 level. MACD has finished expanding and is starting to decrease in volume, with the DIF and DEA forming a death cross. The candlestick has also broken the middle of the Bollinger Band at 104,170. The upper track is at 107,500 and the lower track is at 107,800. The entry points for both long and short positions can be referenced in sequence. Those who have already entered south should continue to hold. For those who have not entered, it's a time to prepare with a heart full of hope.
Short-term strategy reference: The market is never 100% certain, so always set stop losses. Safety comes first; small losses and large profits are the goal, especially when breaking key resistance and support levels. Stops should still be set, do not hold onto losing positions.
The northward trial point is from 101,500 to 101,000, with a defense at 100,500 and a stop loss of 500 points, targeting 102,500 to 103,000, and breaking below looks at 103,500 to 104,000.
The southward trial point is from 104,700 to 105,200, with a defense at 105,700 and a stop loss of 500 points, targeting 104,000 to 103,500, and breaking below looks at 103,000 to 102,500.
Specific operations should be based on real-time market data. For more information, please consult the author. There may be delays in article publication, so suggestions are for reference only, and risks are borne by the reader.
