Hello everyone, I am Eleven. In the past few days, I believe everyone has been following the price trend of Bitcoin, just like Eleven
Hello everyone, I am Eleven. In the past few days, I believe everyone has been following the price trend of Bitcoin, just like Eleven. As of today's 11th, it has been discovered that the price of Bitcoin is $28541, which has increased by nearly 1% in the past 24 hours. Eleven believes that the rise in Bitcoin prices has led to cryptocurrency trading volume reaching approximately $11 billion over the same period of time.
We can take a look at the figure below, and use the relative strength index (RSI), moving weighted average (MWA), Williams fractal (fractal), and moving average convergence divergence (MACD) in the figure to determine the price pattern of (BTC) and determine its later trend.
We can display several key price levels from the 4-hour graph of Bitcoin. The pivot point is located at $28121, with resistance currently at $28627, followed by $29258 and $29911. The support level is $27691, followed by levels of $27144 and $26535.
The current trading price of Bitcoin is above the 50 day moving average (50EMA) of $27850, indicating the current short-term bullish trend. The current price trend of Bitcoin follows a sideways trading pattern, ranging from $28600 to $28100. XI believes that if the market breaks through the $28600 mark, the bullish momentum may increase.
So what is the reason for the continuous rise in prices?
Here are some viewpoints from the eleventh year: (Personal opinions, please refer to them for yourself!!)
Bitcoin is a very scarce 'currency' with only 21 million coins worldwide. As more and more people start investing in Bitcoin, the market demand is also constantly increasing, leading to an increase in Bitcoin prices.
Participants saw opportunities in the rise and fluctuation of Bitcoin prices, and all joined Bitcoin, leading to a surge in Bitcoin prices.
The above analysis only represents personal opinions and does not represent any suggestions for participation.
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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