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Analyst: Bitcoin continues to rise, daily line shows strong fluctuation trend

Analyst: Bitcoin continues to rise, daily line shows strong fluctuation trend

Bitget2024/11/20 04:14

According to analyst charging Duck Army on platform X, Bitcoin $BTC displayed a small bullish candle with a short upper shadow in its daily chart, maintaining the same volume as the previous day and reaching a new historical high. This reflects a continued strong, oscillatory upward trend. Technical indicators show the daily MA30 line trending upwards, while the MACD, above the zero line, indicates a slight weakening of upward momentum. Despite the market's strong fluctuations, analysts generally do not anticipate a significant drop, considering the current pattern as merely a normal hourly adjustment. Looking ahead, critical resistance is expected near $96,000, and investors are advised to look for buying opportunities at lower levels. Additionally, major ETF inflows continue with a small proportion of short-term profit-taking, indicating active capital driving price increases. From an hourly perspective, after a 2-hour rebound, the market might retrace to the 4-hour support level before rising again. Buying opportunities are suggested between $90,840 and $85,550. According to the latest liquidation heat map, the $92,500 to $93,450 area contains a large number of pending short liquidations, marking a critical resistance zone.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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