11.11 Bitcoin has completely taken off! Can't stop at all?
From the chart above, we can see that Bitcoin has been extremely strong in recent days. Since November 6, it has been continually reaching new historical highs every day, breaking previous high points until today, November 11, when Bitcoin's highest price has reached around 81800.
On the previous week, November 5, our member community also made a long position, holding until around 73000 before taking profit, successfully securing a profit of 5500 points.
In the last article, we mentioned that around 73000 might be another opportunity to get in, and our member community once again entered the market, this time around 73700 to go long, with a target price set at 80500, which has also been successfully achieved so far.
Since a bull market has arrived, I believe we should bravely get on board. From a weekly perspective, after closing the week, last week also formed a very large weekly bullish candle, with a single weekly candle rising by about 17%. We can also observe in the chart that there was previously a weekly candle that had a rise of about 22%.
After the last weekly candle appeared, the subsequent rise did not stop, and we can see that there is still at least about 10000 points of upward movement ahead. Therefore, after closing such a strong weekly candle, a slight rise will not stop in the short term, and it should continue for at least another week.
This week, there may be a larger rise, but it is also possible to see a rise of about 10000 points like before. Regardless, it is currently impossible to be bearish.
In the short term, Bitcoin has already provided a retest opportunity early this morning, around the price level of 78800. If you want to be cautious, you can continue to wait for this retest opportunity, but the price may not give a pullback and may directly break through.
It depends on whether you are bold enough to get in and set sufficient stop-loss levels. After the market starts to rise, the fluctuations are very large, making it easy to make money but also easy to lose money. Everyone should be careful and make trades with sufficient confidence, and not let greed cloud their judgment.
