币圈贤哥

11.29 Bitcoin continues to try to break through the trend line! Will it soar if it succeeds?

Continuing to observe the Bitcoin pattern we saw yesterday, we can see from the above figure that Bitcoin made a small correction after failing to break through the downward trend line yesterday, and then began to try to break upward again in the early hours of today.

So far, the price has come to the vicinity of the downward trend line, but it has not been able to break through successfully. From the one-hour level, it can be observed that the K-line has begun to close the trend of the negative line, and the price has begun to pause here, so the current downward trend line above Bitcoin is still very strong.

Then this descending triangle pattern, I think this is the most noteworthy pattern for us at present. I think if the price of Bitcoin still fails to break through this downward trend line from tonight to the early hours of the morning, then it will be more dangerous when entering the weekend.
​The price is likely to continue to pull back until it pulls back to the bottom and the previous support position, which is around 91,000. Of course, today is also Friday. From the perspective of time, the probability of breaking through and rising in this time period of the week is not high.

So I think we can hold a more pessimistic view at present, that is, it is difficult for the price to break through this downward trend line this week. We need to wait for the price to continue to fall back to the support level and then try to break through again. Such an opportunity may appear next week.

Of course, we must always pay attention to this downward trend line. If there is a sudden news or short-term fluctuation that directly breaks through this trend line, then I think there may be an increase during the weekend.

So friends who don’t want to miss out can pay attention to it. You can consider getting on board when it breaks through! Although the probability of a successful breakthrough seems to be low during this period, the market is not what I can predict after all, so I still need to adapt to the situation!
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11.27 Bitcoin's decline slows down! Will it start to rise?

Yesterday we saw Bitcoin decline to the key support level around 92800. We hope this level can support the price of Bitcoin and end its correction, but as we entered last night, Bitcoin continued to fall below this key support.

From the chart above, we can observe that after breaking below this key support level, Bitcoin did not fall much further before attempting to rebound, indicating that there are still people who believe this is an effective support. However, after a weak rebound, it continued to decline.

So far, the lowest price in this round of decline has reached around 90700, nearing the integer threshold of 90000. Currently, the price has slightly rebounded back to around 93000.

Looking at the daily chart, yesterday's daily candle closed as a bearish candle, but it is evident that the magnitude of this decline was not as much as the day before. This can be seen as a slight indication of a stop in the decline. I have also illustrated the support area for the current Bitcoin price on the chart above.

In this area, Bitcoin has a chance to hold its support. Those who are cautious can continue to wait. When the price starts to show sideways fluctuations around this area or a false breakdown occurs, I expect that is when Bitcoin's price will finish its correction and start to rise.

So we can first wait for the daily chart to print a bullish candle before observing false breakdowns or sideways fluctuations in the short term. I believe this is the most prudent approach.
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11.26 Bitcoin experiences a significant drop! Will it initiate a downtrend?

After Bitcoin's price surged to around 99600, it entered a regular weekend period, and the subsequent market trend began to decline. As the new week began, yesterday, the price suddenly experienced a rapid drop.

Initially, it found temporary support near 96000 and rebounded, but this rebound failed to break through the descending trend line. As we can see from the above chart, after failing to break through the trend line, another significant drop occurred.

The major drop happened early this morning, with the lowest price falling back to around 92500. As of now, the price has slightly rebounded, returning above 94000, approaching 95000.

The support level below the current price at 92500 coincidentally retests a previous high. The price had to break through this level to experience a significant rise, reaching nearly 100000, so this can be considered a major-level retracement.

We can clearly see this on the daily chart. Since the beginning of November, when Bitcoin started to experience a rapid upward trend, the bearish candle that closed yesterday is the largest retracement candle, indicating that Bitcoin has experienced its first significant retracement since the rapid rise.

We often say that trends have inertia, so I believe the probability of a direct crash after the first retracement is low. If Bitcoin truly does not rise again and initiates a downtrend, I think it will at least hesitate for a week at the top.

This means that within this week, if Bitcoin's price cannot recover the drop of today's bearish candle and continues to slowly probe new lows or oscillate downward, then by next week, Bitcoin may face the risk of a crash.

Therefore, I still hope that Bitcoin can quickly recover the drop of this bearish candle within this week, ideally bringing the price back above 98000. Such a trend could represent a simple retracement followed by an upward trend for Bitcoin.

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11.22 A hundred thousand dollars worth of Bitcoin is about to appear! How much longer can Bitcoin rise?

The current highest price of Bitcoin has surged to around 99,400, just a little shy of a hundred thousand dollars worth of Bitcoin. However, I feel it’s coming soon. As can be seen from the above chart, the current Bitcoin price is also in a state of high-level fluctuations and upward movement.

Recently, while Bitcoin has had an upward trend, it is apparent that the speed of the rise has been somewhat slow compared to before. Once it reaches a high level, the selling pressure is also quite significant. This can be seen from the candlestick patterns where the speed of the rise and the corresponding bearish candles appear after each breakthrough. Currently, there seems to be a force of cashing out.

Now, analyzing whether Bitcoin is about to reach its peak, in my view, it may not be so. It seems there is a force of cashing out present. I believe it is just that some people want to secure their profits, meaning that a portion of people feel they have earned enough and are not greedy anymore, that’s all.

This does not represent that all forces in the market think this way. Continuing to rise will definitely attract more forces into the market. Bitcoin is currently still maintaining the status of continuously breaking historical highs, and the pullback is not significant. It can be seen a bit in the short term, but not so obvious in the long term.

Looking at the previous Bitcoin bull markets after reaching historical peaks, we can find that Bitcoin actually oscillated at high levels for a long time without being able to break new highs before choosing to decline, and then the bear market would appear. Therefore, when Bitcoin has not reached a historical high for at least a week at high levels, we should reconsider this issue. I think this would be more appropriate.

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.

#比特币走势分析

11.20 Bitcoin continues to reach new historical highs! However, the breakthrough is not significant, will there be a decline?

In our recent analysis articles, we often mention that Bitcoin is currently undergoing a converging triangle oscillation at a high position. In fact, we saw yesterday that the price has already broken through this converging triangle oscillation. Since it has broken upward, we believe the probability of the price continuing to rise is quite high.

So far, we can also see that the subsequent Bitcoin market has been fluctuating upward. In the early hours of today, the Bitcoin price has continued to break through the previous highest point, creating a new historical high. However, the subsequent market has not been able to continue to surge, but rather has shown signs of a downward pullback after a failed breakthrough.

However, the current pullback is not very deep and is still at a high position. It seems that the upward movement is becoming hesitant. We can slightly speculate that after the failed breakthrough and downward pullback, Bitcoin may enter a sideways oscillation range.

As shown in the diagram above, although Bitcoin broke through the historical high in this wave early this morning, there weren't many points before the breakthrough. It is very likely that this is a failed breakout from the box. However, from the perspective of the box, it is very normal for Bitcoin's price to subsequently pull back to the bottom of the box, which currently seems to be around 86400.

This is a scenario we can roughly consider for the subsequent market. However, considering the fluctuating upward trend of this wave of Bitcoin, the current pullback is not particularly large. As shown in the diagram above, the short-term trend line has not been broken, so I believe it may continue to fluctuate upward.

I think as long as Bitcoin remains above 91000, it will continue to oscillate at a high position, and there is still a possibility of breaking upward at any time!

#比特币走势分析

11.19 Bitcoin Breakthrough Begins Fluctuation! Will There Be Further Increases?

Bitcoin's current price is around 91300. In yesterday's analysis, we mentioned that Bitcoin was forming a converging triangle at the top. Subsequently, Bitcoin made an upward breakthrough, which aligns with our bullish expectations.

We believe that after Bitcoin breaks through the upper trend line of this triangle, it will initiate an upward trend, leading to a new round of rising prices this week. However, we have also observed that after the breakthrough, there was an immediate pullback, but the pullback did not lead to an immediate drop, and instead, Bitcoin began a relatively large fluctuation in the area just broken through.

However, it is clear that the converging triangle we previously drew has not been broken by Bitcoin's current downward trend line. Currently, Bitcoin's price has still maintained a rising low point. If we disregard the upper trend line of this triangle, we can see that Bitcoin is still in an upward fluctuating trend.

So although the expected explosive increase did not occur, I believe there is also no downward trend. Furthermore, Bitcoin's price is still above ninety thousand, maintaining a high position in a horizontal fluctuation. Under these circumstances, I believe there are significant bullish opportunities.

This means that the price could break through at any moment since it is at a relatively high position. Once it breaks through, it can quickly reach a new historical high. This would completely change the technical structure, and after the breakthrough and new high, the majority could follow suit, and a surge could commence.

Therefore, I believe there is still hope for an increase. At the same time, everyone should pay attention to the situation of the bottom trend line. Once it is broken, please be aware of the risks!

#比特币走势分析

11.18 Will Bitcoin continue to rise this week? When will the rise start?

Bitcoin closed out the weekly K-line today. It can be seen that the weekly line of last week closed out a large upper shadow line, which is a signal worthy of vigilance. ​

Then from the four-hour level, Bitcoin has been fluctuating sideways recently. As shown in the figure, connecting the high and low points of the recent oscillating trend, it can be found that Bitcoin is currently in a converging triangle trend. In the early morning, it just stepped back on the bottom trend line and is currently in the process of rebounding.

So I think that Bitcoin still has a chance to break through and rise this week, and it may appear soon. I think the breakthrough will start when the price breaks through the upper trend line. After the breakthrough, it is very likely to continue to rise and reach a new historical high.

I think everyone can look forward to this week's market. Of course, it is also possible that the breakthrough will fail and then fall back. If it falls below the lower trend line of the convergent triangle, then this week is likely to be a week of oscillation and callback. The price is likely to callback to around 85,000, which is the starting point of the bottom trend line of the convergent triangle in the figure.

In this case, the trend of Bitcoin may change from a convergent triangle to a sideways oscillating box. The Bitcoin price should still be supported at the bottom of this box, but I think the same callback to a too low position is not conducive to breaking through the historical high next.

If it can continue to fluctuate sideways at a high level, that is, it cannot fall below 90,000, then I think this market is the best. If it fluctuates sideways at a high level, a random breakthrough can smoothly reach a historical high, which will scare the bears and the bulls can move up unimpeded.
So compared to the callback, I hope that the price can fluctuate sideways at a high level, which is the most conducive to the trend of continuing to break through new highs!

#比特币走势分析

11.15 Bitcoin continues to pull back after breaking a new high! What conditions are needed to continue to break a new high next week?

Bitcoin reached a high of around 93,300 in the early morning of the 14th. After the price increase, Bitcoin began to fall continuously. Then in the evening of the 14th, the price continued to try to rebound, but the highest was only around 91,800, and then it began to fall again.
So far, the lowest pullback after this market surge is around 86,800. The price is temporarily supported here, but from the previous market, we can also see that the Bitcoin price fell below an upward trend line when it reached this price.

So the current market is still relatively critical. Although it seems to be entering a weekend volatile market, I think it is still important whether the price can return to above this trend line today. If it returns to above the trend line, then there is a high probability that the weekend will enter a sideways volatile trend, and there will still be opportunities to continue to break through and rise next week.

Because the current trend line can also be seen from the top, the current shape may be a convergent triangle shape. It is about to enter the weekend time. I think convergent oscillation is the most suitable trend.

But if the price cannot rebound at present. If it hits the trend line and tries to fall again, then when entering the weekend market, the situation is not good. It is very likely to break below 85,000. If it wants to rise next week, it will consume a lot of energy, but it can only touch the position near 90,000. In the future, Bitcoin will basically reach the top. Entering a long period of sideways fluctuations at the top, if it fluctuates sideways for a long time and cannot go up, it will start a downward trend.

So today I suggest that everyone pay attention to whether the price can return to the top of the trend line. If it continues to rebound and return to this convergence range today, I think we can consider the opportunity to ambush and get on the bus in advance before next week. The probability of continuing to sprint to a new high next week will be very high.

#比特币走势分析

11.13 Bitcoin hasn't reached a historical high today! Is there still a chance?

Bitcoin's highest price yesterday was just about 90,000. Currently, my current market does not show the price reaching 90,000, but other exchanges have seen Bitcoin at 90,000. Then in the afternoon, Bitcoin faced resistance and pulled back, reaching a low near the support level of 85,000.

Later in the evening, Bitcoin's price attempted to break upwards again, reaching almost the previous high, but it couldn't break through the previous high. Since November 6, Bitcoin has been able to set new historical highs every day, breaking the previous highs each day.

However, as of now, Bitcoin today has not set a new historical high. Of course, it's uncertain whether it will continue to attempt a breakthrough in the evening, as the day is not over yet, but previously breakthroughs have occurred in the early morning, creating historical highs.

Then Bitcoin's second attempt to break through 90,000 was unsuccessful, and so far the retracement price has just hit around 87,000. From the current market, we can see that the price has started to pause here, and the candlestick has begun to overlap and consolidate. So we can assume that Bitcoin has a chance to hold at this position and continue to attempt a rebound.

Combining the Bitcoin upward trend from the previous days, the bottoms have all retraced to show higher lows, with fluctuations upwards, and at any moment there could be a surge in the market. If you want to enter here, I suggest waiting for an hourly bullish candlestick rebound.

Because currently the hourly Bitcoin candlestick is still in a bearish situation, this is a detail to pay attention to for short-term entry. The above suggestions are for reference only and not investment advice. Still, as I said, if everyone lacks experience, it's best to practice more; there will still be opportunities in the future.

Finally, tonight there will be the release of the U.S. CPI, which will result in market fluctuations due to news events. Please pay attention to the market movements at that time!

#比特币走势分析

11.12 Control your mindset! In a bull market, there are big gains and big losses!

Last night, the price of Bitcoin was still around 81,600, but as it approached the early morning hours, Bitcoin started to surge, reaching around 85,000 by the time it hit midnight.

During the early morning, Bitcoin continued to break through, rising until this morning, reaching a high of around 89,700, just over two hundred points away from the 90,000 mark. Bitcoin has truly been very strong these past few days.

In yesterday's article, we analyzed that Bitcoin might give a short-term pullback, but we underestimated the strength of its upward movement. After a slight pullback, it surged again and immediately broke out for a larger increase.

Of course, we also mentioned yesterday that now is the stage of the bull market outbreak, and it depends on whether one can boldly get on board and leave enough room for stop-loss. If you lack experience in bull market operations, it can be very easy to incur losses, because while there is a significant rise in the market, there are also considerable pullbacks.

If your leverage is too high, it can also easily blow up, especially in this crazy rising market phase, where people are most prone to greed and also very afraid of missing out. Therefore, those with unstable mindsets can become very aggressive.
It’s rare to have such a market, only two opportunities a year. Looking back, the times of crazy rises didn’t last long; the truly wild market was just about one or two weeks, with the rise lasting perhaps just a month, followed by fluctuations and pullbacks.

So, to seize opportunities, one needs to have some experience in a bull market. Everyone should take this opportunity to practice a bit; you can slowly wait and learn to operate. In this bull market, practice with a small position first, and when the next bull market comes, operating with experience will be better.
The reason for mentioning this is also because many newcomers have entered the market these days, and they don’t even know how to buy Bitcoin. So it’s important to emphasize, if you lack experience, it’s best not to operate with a large position.

#比特币

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.

#比特币走势分析

11.8 Bitcoin's breakout magnitude is not high! Has the uptrend ended?

After reaching a new historical high yesterday, Bitcoin underwent a brief pullback, finding support around 74500 in the afternoon to evening. Then, early this morning, it broke upward again, reaching a new historical high, with the highest price around 68000. The current price has pulled back to around 75800.
For three consecutive days, Bitcoin has continuously reached historic new highs, but we can also see from the current short-term market that although new historical highs are being broken consecutively, the overall breakout magnitude compared to previous highs is not very large. In the current situation, there may be some hidden dangers, and it is also possible that the upward trend is losing strength.

Of course, it is not possible to directly go bearish now, and today is also Friday, approaching the weekend. Generally speaking, it is normal for there to be no significant market movements on weekends. Currently, I see the pattern resembling an upward wedge with three pushes. This kind of movement usually returns to the starting point of the three pushes to find support after a failed breakout.
At present, I believe this starting point is around 73000. If it is confirmed that Bitcoin's breakout momentum is insufficient and the breakout fails leading to a pullback, we can pay attention to the support situation at this point, as it could be an opportunity for the next round of entry.

Of course, we can also clearly see that today's pullback is less than yesterday's. I judge that this is mostly because today is already Friday, so I believe the pullback may continue, urging everyone to pay attention to the possible support level below.
However, if you are entering at a relatively good position, there is no need to worry at all. Although the breakout magnitude is not high, today's pullback is not very deep, and the speed of the pullback is not particularly fast. Overall, the price is still in an upward trend.
There is a possibility of continued rise in the evening, unless the price experiences a significant increase followed by an immediate large drop and a failed breakout, or if it continues to undergo a deeper pullback, then we will consider the price may retrace to the support level I mentioned earlier. Otherwise, we are still bullish now.

#比特币走势分析

11.7 Bitcoin continuously sets new historical highs! How to find long opportunities?

Bitcoin started to rise yesterday morning, directly surging above 75000, then subsequently pulled back to 73000, and in the afternoon, it began a rebound trend that continued until the early hours of today, when Bitcoin again set a new high, reaching a peak of 76400.
The current price is again pulling back, and the current price is around 75000, still at a very high level, appearing to have the potential for another surge at any moment.

By drawing a trendline connecting the recent high points, it can be observed that Bitcoin may be forming an upward channel, which is a pattern that commonly occurs in a rising market. Currently, it appears that the Bitcoin price is likely to pull back to the bottom of this channel, which seems to be a very opportune place for a rebound.
The key support level below is believed to be around 73000, which is the first point where Bitcoin held after surging to a historical high yesterday afternoon. Therefore, as long as this position is not broken during the pullback process, I believe the uptrend remains intact.

However, if the price pulls back below this level and breaks the short-term support, I think bulls should be cautious, temporarily observing the market and waiting for the price to return above this level, or to hold at a more crucial lower support level before considering to chase long positions again.

If it breaks down, I will continue to monitor and remind everyone about the pullback situation of the lower support level. I expect it might be around the 70000 level, but that's a topic for later; however, it is still important to remind everyone.
Because the arrival of a crazy bull market means that the volatility will also be very large, being careless in a bull market could also lead to significant losses.

#比特币走势分析

11.6 Bitcoin Witnesses History! A Surge Has Occurred!

Bitcoin is witnessing history, and after today's daily closing, Bitcoin has begun to show a surge trend. As of now, the Bitcoin price has reached a peak of 75,000. This wave of market movement has come too quickly; just a few days ago, Bitcoin's price had been experiencing a continuous decline. Today's surge has directly recovered the losses of six consecutive daily candles.

To be honest, this surge has been incredibly strong. Our member community also got on board yesterday when Bitcoin retraced, directly making a profit of 5,500 points. We mentioned in our article on November 4th that Bitcoin was likely to attempt to break through the historical high again this week. Whether it can break through remains uncertain, but the rebounds in between are our profit points.

In yesterday's article analysis, we saw that Bitcoin continued to retrace and suggested waiting for the daily line to stabilize first, as there had already been six consecutive bearish candles. It was a more prudent suggestion to wait for Bitcoin to close a strong bullish candle on the daily line before proceeding.

In fact, one can also see on the charts that Bitcoin only erupted into a very rapid rise after closing the daily line yesterday morning; however, the speed was still too fast, and perhaps everyone did not realize it or remember my viewpoint.

Now Bitcoin has reached a new historical high, but from a larger perspective, it is still just a slight breakthrough of the previous high, which could potentially turn into a false breakout. Therefore, it is crucial for Bitcoin's price to continue breaking through to higher levels or stabilize at high positions of 74,000 to 75,000, as this would provide the next opportunity for a bullish trend!

#比特币走势分析

11.5 Bitcoin continues to decline! Is there still a rebound trend?

Bitcoin continued to decline yesterday. Looking at the daily chart, we can see that there have been six consecutive bearish candles. Under these circumstances, it seems that Bitcoin is about to fall to the next support level, which is around 65,000.

From the trend line drawn from the bottom, it can be seen that the current price has not yet reached the position to retest the trend line. However, if it drops to the support level of 65,000, it will have to touch this upward trend line.

As we mentioned yesterday, there is a chance for Bitcoin this week to attempt to break through the key resistance area around 73,000 to 74,000. This is also a historically significant resistance range. Based on previous situations, I believe that the price should not just end the downward trend after a pullback, but should continue to attempt to make another breakthrough.

If the breakthrough fails again, then I believe a pullback will begin. However, the situation in the last few days has not followed this pattern. After the price reached around 73,000, it faced resistance and has been continuously pulling back down, with a significant decline. In the early hours, the price also dropped to the 66,000 price range.

Moreover, from the daily chart, the MACD is currently showing a dead cross trend, and the situation is not very optimistic. My suggestion is still to wait for the price to show a rebound on the daily chart before considering whether it will attempt a second breakthrough.

Although I expect the price will likely attempt a second breakthrough, we still need to wait for Bitcoin to stabilize after the pullback before considering relevant actions. Therefore, at present, we should first expect the daily chart to show a bullish candle to stabilize at the bottom; otherwise, bulls should refrain from taking action recklessly.

#比特币走势分析

11.4 Bitcoin's attempt to break historical high fails! Will there be a second breakout opportunity this week?

Bitcoin's current price is around 69,200. At the end of last month, Bitcoin experienced a very strong surge, reaching a peak of around 73,700, but subsequently failed to break through again and chose to decline after a period of sideways movement.

Initially, it dropped to around 69,000, and subsequent attempts to rise were unsuccessful, leading into the weekend. Then, yesterday morning, the price continued to decline, hitting a low of around 67,000.
As we enter a new week, which is today, early in the morning, Bitcoin's price has started to show signs of an upward trend again, currently returning to above 69,000.

From a daily chart perspective, since Bitcoin's attempt to break the historical high failed, it has recorded four consecutive bearish days. The rebound early this morning seems to show signs of a bullish candle, but from the daily view, it is still far from sufficient.

The trend of continuing to rebound and attempt to break through is not visible from the daily chart, but I believe there should be an opportunity for this to occur in this new week, as Bitcoin attempts to break the historical high. I think this opportunity can't just be a one-time attempt that fails and then returns to a sideways or downward trend.

From the MACD perspective, currently, the MACD fast and slow lines are forming a death cross above the zero line, which is a very unfavorable formation, indicating that the resistance above is still very strong, and Bitcoin's upward momentum is insufficient.

I currently believe that this week there may be another opportunity to attempt to break through the historical high resistance above. I hope this time Bitcoin can unleash very strong energy; if it fails to break through again, it will be very hard to say what will happen next.

#比特币走势分析

10.29 Bitcoin starts a strong rise! Is the bull market really coming?

Bitcoin's price has been continuously rising since early morning today, directly breaking through the $70,000 mark, with the highest price reaching around $71,600 so far.

This is a very rare upward trend, as Bitcoin is currently at a very high position, and it seems that a new round of bull market is about to start. Just yesterday, we were discussing whether the triangular pattern could break through, and to our surprise, the market moved so quickly. This opportunity is rare, and we must pay attention to the upcoming situation; it is very likely that the bull market will start directly next, and by the time we realize it, we may have missed out and will have to wait several more years.

From the above chart, the highest position Bitcoin has reached is exactly at the extension of the previous top trend line. Currently, it seems to be facing resistance, and the previous market did indeed provide some pullback. However, in this situation, if strong upward movement continues after a pullback, we must consider that the upward trend will continue.

The upcoming market may still experience some small pullbacks, as the price has temporarily returned to below $71,000. After a small pullback, it is very likely that there will be continued growth today. Based on my personal experience, once an upward trend starts, the speed is very fast; it is normal for the price to rise by three or four thousand dollars within a day.

So today, in the short term, everyone can look out for small support levels after the pullback stops, which could be considered for entry. Of course, there is also the possibility that today might see a failed breakout, leading to continued declines; however, I still think it’s worth trying.

The above is just my personal opinion and does not constitute investment advice. If my friends have little experience, it is still advisable to observe and consider using a demo account or trading with very small positions, waiting until they can achieve stable profits before considering making money. The experience of a bull market is also very important!

#比特币走势分析

10.28 Bitcoin Tries to Break Through Again! Will It Succeed Today?

On the 25th, Bitcoin attempted to rebound and break through again, but when the price approached around 68,700, which is the resistance at the previous high, it was unable to succeed in breaking through. Subsequently, it began to decline relatively quickly, with the lowest price dropping to around 65,600.

This position happens to have support from the previous low, and the price temporarily held here, rebounding back to around 67,000. Then entering the weekend, the Bitcoin price has been consolidating around 67,000 for almost two days.

Then last night, the price started an upward trend again, briefly touching 68,000, but as of now, it is still slightly below 68,000.

Looking at the current situation from a four-hour perspective, we can see that the price has begun to show a converging fluctuation at the top, forming a triangle pattern. We have always said that triangles are a very complex pattern. Last night into the early morning, the price rebounded to the highest point, which just touched the descending trend line at the top of this triangle.

If the price cannot break through, it looks like it will likely retrace to the bottom trend line of this triangle, currently estimated to be around 66,000. From today's situation, the probability of breaking through does not seem high, so it appears there might be a short-term opportunity to short.

However, everyone should note that it is best to enter when there is a failure to break through at a relatively high position, as we can refer to the situation we initially analyzed, where the price returned to the previous high and failed to break through. The decline on the 25th was after two attempts to break through, with the second attempt failing, which then initiated a rapid decline.

The current price is certainly at a high position. It can be clearly seen that after the price rose, it reached around 68,600 to 68,900, continuously failing to break through, leading to the formation of a converging triangle. This converging triangle may still have the opportunity to make an upward breakthrough. Personally, I suggest waiting for a pullback to the support of the trend line below the triangle; trying to go long at this position might be a better choice!

#比特币走势分析

10.25 Bitcoin Pullback Rebound Trend! New High Surge Begins?

Yesterday, Bitcoin fell to around 65000, then the price quickly rebounded, returning to above 67000. This was the general situation of the market when we analyzed it yesterday.
Subsequently, the market provided a downward correction, pulling back to around 66700. This position, as shown in the chart, is the bottom of the small range that was previously broken. Yesterday, the price retested this position and continued to move upward, and so far the highest price has reached around 68800. Now, the price has pulled back again.

The current price is around 68000, and we can still see from the above chart that this position is also very critical, as it is the top of the small range that was previously broken. Now it has just retested this area. It seems that the price is likely to find support here, with a trend to continue rebounding upwards.

Looking at the four-hour level, we mentioned yesterday that the price might experience a large volatile range at the top. At that time, the price was still near 67000, and now it has rebounded back to above 68000. It is relatively close to the top of this large range, but the price has not yet reached it, and there is still some space.

Once the price reaches the top position, which is the previous high, I believe there is a chance for the price to continue testing this key resistance above. The previous highest price was around 69500, and there is an opportunity to break through this level. It seems the key is to stand above the expected position.

Continuing to look at the daily level, we can see that the price previously pulled back to around 65000, and at the daily level it also appears to have roughly retested the middle line of the Bollinger Bands. Yesterday's daily line closed with a large bullish candle, which means this wave of trend is also a pullback to the middle line of the Bollinger Bands, continuing the rebound trend. The first target is to see Bitcoin continue to reach the previous high, and we hope Bitcoin can break through the previous high to initiate a strong upward trend.

#比特币走势分析