Since Trump won the U.S. election on November 8, Bitcoin has been making strides towards the $100,000 mark, peaking at over $99,500 on November 23, with a cumulative increase of 37.6% over nearly a month. However, since last weekend, Bitcoin has begun to show the most significant correction since Trump's election, fluctuating downwards from around $99,500, reaching a low of about $90,800 this morning. As of the time of writing, it has slightly rebounded, quoted at $93,353, with a decline of 1.68% over the past 24 hours.

The repeated failures of Bitcoin to break through the $100,000 mark can be attributed to long-term investors in the market taking substantial profits during the post-election rally. These individuals have begun to exit with realized profits, with long-term holders selling off up to $2.02 billion daily, setting a historical high. This indicates that the market needs strong demand to absorb this excess supply. However, this process may require a period of reaccumulation to complete.

Bitcoin 4-Hour Chart

First, according to the Bollinger Bands indicator on the 4H Bitcoin chart, the price has rebounded near the lower band and is gradually approaching the middle band, indicating that the market is gradually recovering from an oversold state. If the price can effectively stabilize above the middle band, it may continue an upward trend, with a target near the upper band. However, if the price fails to stabilize above the middle band, it may continue to fluctuate between the lower and middle bands.

Second, based on the KDJ indicator on the 4H Bitcoin chart, the K-line and D-line values have rebounded from low levels and are moving upwards, currently not entering the overbought area, but the J-line value is quickly approaching, showing strong short-term rebound momentum. If the K-line and D-line values break above the 50 area, it will further strengthen the upward trend. However, it is also necessary to be cautious of the risk of a pullback at high levels.

Finally, according to the MACD indicator on the 4H Bitcoin chart, the DIF line and DEA line are still below the zero axis but are showing a trend of convergence, and the MACD green histogram is gradually shortening, indicating that bearish strength is weakening. If the DIF line breaks above the DEA line to form a golden cross, it may further confirm the rebound trend.

Bitcoin 1-Hour Chart

First, according to the Bollinger Bands indicator on the 1H Bitcoin chart, the price has started to rebound from the lower band and is currently operating near the middle band, but has not effectively broken through the middle band, indicating a short-term fluctuating adjustment trend. If the price can effectively stabilize above the middle band, it may continue to test the upper band pressure (94,500-95,000). If the price fails to stabilize above the middle band and falls back, it may seek support near the lower band (91,000).

Second, based on the KDJ indicator on the 1H Bitcoin chart, the K-line and D-line values are in the overbought area, and the J-line value has started to turn down, indicating that there may be short-term pullback pressure. If the K-line and D-line values move down and break below 50, it can confirm a short-term downward trend until it returns to the oversold area, where there may be another chance for a rebound.

Finally, according to the MACD indicator on the 1H Bitcoin chart, the DIF line and DEA line are close to the zero axis below and have not formed a clear golden cross or death cross signal. The MACD red histogram is gradually shortening, indicating that bullish strength is waning. If the DIF line crosses below the DEA line to form a death cross, the price will further decline; if the DIF line and DEA line break above the zero axis and increase in volume, it may further push upwards.

In summary, the current Bitcoin price shows signs of rebound, with the MACD and KDJ indicators on the 4H level supporting the demand for a short-term rebound, with key resistance near the Bollinger Bands middle band at around 95,000. On the 1H level, Bitcoin is currently fluctuating near the middle band, and the short-term direction is still unclear. If the KDJ and MACD align to form a bearish signal, it may drop back to test support near 91,000.

Based on the above analysis, the following suggestions are provided for reference:

Buy Bitcoin on a pullback to around 92,600, targeting 94,000-94,500, with a stop-loss at 92,000.

Instead of giving you a 100% accurate suggestion, I prefer to provide you with the right mindset and trend. After all, teaching someone to fish is better than giving them a fish; the goal is to learn how to earn for a lifetime! Focus on the mindset, grasping the trend, and planning your positions. What I can do is use my practical experience to help you, guiding your investment decisions and management in the right direction.

Time of writing: (2024-11-27, 17:30)

(Written by - Master Says Coin) Disclaimer: Online publication may have delays; the above suggestions are for reference only. The author is dedicated to research and analysis in investment fields such as Bitcoin, Ethereum, altcoins, forex, and stocks, with years of experience in the financial market and rich practical operation experience. Investment carries risks; proceed with caution. For more real-time market analysis, please follow the official account Master Says Coin for discussion and exchange.

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