Original

Master Chen 11.12: The wind and rain will not move and the mountain will not be shaken. Will it rise to the peak or fall back and rise again?

avatar
师爷陈
2 days ago
This article is machine translated
Show original

Master Analyst Discusses Hot Topics:

Another new high! Bitcoin successfully broke through $89,000, reaching a high of $89,800, marching towards $90,000. Currently, Bitcoin's total market value has reached $1.76 trillion, surpassing silver's $1.73 trillion, becoming the world's eighth-largest asset.

Over the past 7 days, Bitcoin has risen by 31%, and many people are beginning to look at the possibility of its market value surpassing silver, although it still has a long way to go to catch up with gold's $17.65 trillion market value, about 10 times the distance.

The long-term appreciation trend of Bitcoin is undeniable, but the current market sentiment appears to be overly excited, and the short-term surge in the market may be difficult to sustain. Is there still room for further upside? The master analyst personally believes that the current price may not be the peak, and after breaking through $90,000, it can be gradually considered to take profits rationally in the medium and long term.

As the master analyst mentioned earlier, Bitcoin is essentially similar to tech stocks in the US stock market, and therefore will fluctuate with the fluctuations of the US stock market. Trump has always supported a policy of interest rate cuts, and if he implements it vigorously in the future, it will release more liquidity.

Under the circumstances where market concerns about inflation are not high and the Fed is expected to maintain interest rate cuts rather than hikes in the short term, Bitcoin may still rise. The market is currently betting in advance on the positive impact of Trump's possible return to power, but the driving force brought by the spread of this sentiment cannot be sustained.

The master analyst previously mentioned in the analysis at the end of October that Bitcoin may pull back from $75,000 to $60,000, and then retest $80,000; after a pullback from $80,000 to $77,150, the target is $90,000; the current price has almost reached this expectation, but further consolidation may be needed in the next few months.

Based on historical experience, Bitcoin usually reaches its peak earlier than Altcoins, and Altcoins may have room for further catch-up, but caution is needed.

As for Ethereum, the master analyst personally believes that there are two possible trends: 1. If Ethereum falls below $2,720, it may have a powerful rebound to $3,600! Just like a big brother who has been low-key for a long time, finally can't hold back and appears to ask everyone if they are still there? But this trend is also like stepping on the gas and the brake at the same time.

2. Or it may just make a small pullback, shake its shoulders and continue to charge towards $3,600. But when it comes back this time, it probably won't be the $2,720 anymore, but a new starting point.

Regarding the weekly MACD of Ethereum, if it pulls back below the zero line, it may need to go back and test the bottom again, and this bull market may just be a small sprint.

But if it pulls back above the zero line in a stylish manner, it may still be able to continue its bullish trend with some volatility. It's just like an old-school player who is floating in the rivers and lakes, leisurely stepping on the zero line, even if there are some twists and turns, the wind can't blow the mountain and the mountain can't shake.

In short, Ethereum is like an old fox, with many tricks and deep schemes, and it may change its mind at any time. So, the market is all closely watching it, afraid that it will suddenly have a flash of inspiration and come up with a new trick, continuing to push the bullish market forward.

Master Analyst Sees the Trend:

Yesterday, the master analyst's wave-based pre-embedded long position was in the 80,000-80,600 range, and it reached the lowest point of around 80,400 yesterday afternoon. The long target of 81,400 to 82,000 was perfectly reached, and 1,500 points were taken.

Due to the overall upward trend of Bitcoin, it is relatively difficult to find a clear support level. At this time, analyzing the chart in the lower time frame is more advantageous, which can better identify the area where the high point is formed.

Currently, after reaching the near-$89,000 high, it has entered an adjustment range, and the short-term upward trend has been broken, which is also an opportunity for further adjustment. It is recommended to closely monitor the trend of the moving averages.

Resistance Levels:

First Resistance: $88,300

Second Resistance: $89,300

Support Levels:

First Support: $86,500

Second Support: $85,700

Trading Suggestions for Today:

Unlike the previous adjustments, Bitcoin has now formed a Double Top pattern, and the short-term trend has deviated from the upward trajectory. Further adjustments can be expected, thereby finding a more favorable entry point.

In today's trading, Bitcoin is currently retesting the $89,000 high and accompanied by adjustments, so the opportunity for a rebound can be considered during the pullback.

If the price line is too far away from the moving average, it usually will revert to the moving average. Therefore, observe the short-term, medium-term, and long-term moving averages in the 15-minute and longer time frames to find entry opportunities.

11.12 Master Analyst's Wave-Based Pre-Embedded Positions:

Long Entry: Consider lightly longing around $87,200-$87,500, or directly long if it pulls back to the $86,500 area. Target: $88,300-$89,300

Short Entry: Not Considered

The content of this article is exclusively planned and published by Master Analyst Chen (public account: Coin God Master Analyst Chen), who is the same person across all platforms. If you want to learn more about real-time investment strategies, unwinding, spot, short, medium, and long-term contract trading methods, operation techniques, and K-line knowledge, you can join Master Analyst Chen's learning and exchange group. The group has already opened up free fan experience groups, community live broadcasts, and other high-quality experience projects!

Warm Reminder: The only public account (as shown in the image above) that this article is written by is Master Analyst Chen. All other advertisements at the end of the article and in the comments section are not related to the author! Please be cautious in identifying the authenticity, and thank you for reading.

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments