24/11/14 BTC accelerated to a new high and then retreated, possibly dropping down to 100,000 with an upward spike; the five-wave rise may be nearing completion.

CN
6 days ago

Bitcoin is still in an upward trend, having reached a high of 93,265 before dropping to 87,970 and continuing to rebound. As long as the price stays above 90,000, the short-term pullback risk is low. Moving up to 100,000 only has about 7% room for growth. The five-wave upward movement on the daily chart is nearing its end; we have long anticipated a range of 80,000 to 100,000, and we are close to the second target. Once the main upward wave is completed, we may see high-level fluctuations or pullbacks. In a bull market, we do not call a top or short the market. In previous instances, I reminded to engage in short-term trades to lock in profits; during this period, observing the one-hour chart can help capture many good trading opportunities.

Altcoins are taking turns to catch up; previously, DOGE surged several times, leading to a rise in MEME, PEPE, PEOPLE, MEME… Next, we should pay attention to sectors that have not yet caught up, such as GAMEFI or Oracles.

Bitcoin

After dropping back to 90,000, it rebounded again, reaching around 91,400 at the time of writing. It is likely to experience high-level fluctuations in the 85,000 to 95,000 range, and a 10,000-point space for short-term trading is actually sufficient.

Currently, there are no top signals on the daily chart. The 4-hour chart shows an upward channel, and the 1-hour chart has formed a triangular structure, with the main theme being to go long on pullbacks. However, the higher it goes, the greater the short-term risk. If a top signal appears on the daily chart, I will reduce my position by 20-30%, while the base position will remain unchanged. In the future pullback, we will re-enter and look towards the next target. Support: Resistance:

Ethereum

The daily chart shows a spike to 2,444 before retreating, currently oscillating around 3,000. The 4-hour chart shows a triangular oscillation; pay attention to the direction of the triangle. Here, we still need to see if the exchange rate can catch up; the current exchange rate has dropped near previous lows, and a change is expected in the next couple of days. Support: Resistance:

If you like my views, please like, comment, and share. Let's navigate through the bull and bear markets together!!!

This article is time-sensitive and for reference only; it will be updated in real-time.

Focusing on K-line technical research, sharing global investment opportunities. Public account: Trading Prince Fusu

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