Hello everyone, I am Eleven. Daily update on Bitcoin, bringing frontline information
Hello everyone, I am Eleven. Daily update on Bitcoin, bringing frontline information. Today we will continue to take a look at the recent market trends of Bitcoin.
We saw that the price trend of Bitcoin last night was also very volatile. Firstly, it rose to 37991, which is a very important resistance level, then quickly fell to over 2300 points, and finally rebounded to oscillate around 26800. The high volatility of Bitcoin is also a common phenomenon in the cryptocurrency market.
Can Bitcoin continue to break through 38000 and reach a higher point? At present, there are different views in the market, with some people bearish and others cautious about the first round of gains after a correction.
We can refer to the figure and use the relative strength index (RSI), moving weighted average (MWA), Williams fractal (fractal), and moving average convergence divergence (MACD) to determine the price pattern of (BTC) and determine its later trend.
We see that Bitcoin is currently located between a larger channel and a smaller channel, and above the bullish and bearish split line. The oversold index reached 8.25, indicating that there may be some oversold in the market. Based on these factors, Eleven believes that Bitcoin may exhibit a fluctuating upward trend during the day today.
The market trend is difficult to predict, and for a highly volatile cryptocurrency market like this, '11' only represents personal opinions and does not represent any suggestions for participation!
Have you ever posted an article before the National Day to tell everyone to bury the spot of counterfeit coins in Fushan? So last night, the wave of correction of many counterfeit coins was a good opportunity to copy the bottom.
How many friends have boarded the car now, as mentioned by Eleven during Bu Ju?
According to the current market situation, if Bitcoin falls back to the price level of 36000 or 350000, 11 believes that for those who have recently opened long, they may face the risk of selling out. As for whether it will rise again to 37800 and cause large bearers to sell out, it is also uncertain. This is the reason why the 11th National Day reminds everyone to keep up with the situation, participate rationally, and view rationally. After all, not being in the right circle is equivalent to trying in vain.
Finally, XI believes that even if driving around 36000, there is still some room for growth.proposalThe support positions below are 36000-36100, 35100-35300, 34400, and 33900, respectively. If Bitcoin can stand firm above the price of 36975, it may be possible to touch 38000 again.
If you have any questions, you can ask me directly. As long as you know it on November 11th, you will definitely know everything!
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