Cryptocurrency Circle Li Ying: 4.24 Bitcoin fluctuates at a high of 78500! Will it break 80000 tonight or pull back? Latest market analysis and trading suggestions

Dear family! The current price of Bitcoin is 78500, which is in a high platform period after a strong upward surge. The upper limit of 79472 is the previous high ceiling, and the lower limit of 77557 is the safety net of the lower Bollinger Band. Recently, the price has repeatedly tested the 79000-79500 region but has been pushed back down, with bulls wanting to push further but unable to do so, while bears are taking this opportunity to slightly suppress at the high. The market atmosphere feels a bit like a strong bow at the end, although the overall trend is still bullish, it is unable to rise in the short term. Next, we will key in on two signals: if it breaks through 79472 with volume, it may start a new round of surging; if it breaks below 77500, it may retrace to find support at 76000 or even 75000. In simple terms, it has surged significantly but is tired, and direction needs to be chosen.

From a technical perspective, the three lines of the Bollinger Band are diverging upwards, with the upper band at 79204 and the lower band at 77255, and the price is running very close to the upper band, indicating strong short-term bullishness but with overbought risk. The moving average system is in a bullish arrangement, moving upwards in sequence, and the price is firmly above all moving averages, with a clear mid-term bullish trend. The MACD indicator is crucial: the DIF and DEA have formed a death cross above the zero axis, with the green momentum bars continuously expanding, which is a typical sign of diminishing upward momentum and a pullback signal. However, it is important to note that a MACD death cross in a strong market may only be a brief adjustment; if the price does not break below the 77000 support, there is still a possibility for a second high. Overall, Li Ying analyzes that the indicators show a bullish trend but with significant short-term pullback pressure.

Short-term practical strategy (taught by Li Ying, accurately corresponding to the market)

Long strategy: Buy at the current price of 77500-78000, target 79500 aiming for 80500, stop loss at 76800

Short strategy: If encountering resistance at 79000-79500, stop loss at 80200, target 78000 aiming for 77500

Key notice: The current market is in a high fluctuation + momentum reduction phase, it is suggested to patiently wait for the price to break through 79472 or drop below 77500 before acting in accordance with the trend, avoiding frequent trading in a narrow range. All positions must set stop losses to control risk.

Risk notice: The above analysis by Li Ying is based on real-time market conditions and data, for reference only, and does not constitute investment advice. Trading risk is borne by the individual.

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