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Analyst: Short-term adjustment expected for Bitcoin, rebound testing $90,000 resistance level

Analyst: Short-term adjustment expected for Bitcoin, rebound testing $90,000 resistance level

Bitget2024/11/13 01:37
BTC-1.32%

According to analyst Duck Army on platform X, BTC's daily chart shows a small bearish candlestick with a long lower shadow and a short upper shadow, resembling a doji star. The trading volume increased by one-fifth compared to the previous day, suggesting a potential short-term peak in the uptrend. The MA30 line remains on an upward trajectory, and the MACD indicator shows increased bullish momentum above the zero line. Yesterday’s rapid rise depleted much of the bullish energy, and although BTC touched the $90,000 threshold today, it failed to break through, indicating a possible retracement. The anticipated oscillatory decline would serve as a period for accumulating strength. Key resistance levels on the daily chart range from $90,000 to $109,800, with support between $82,400 and $76,800. In terms of short-term strategies, it is recommended to go long at $85,420 and $82,380 and short at $90,000. The liquidation heat map shows a large number of open short positions waiting to be liquidated between $89,950 and $92,700, while the downward space from $85,700 to $79,000 has substantial long positions providing support.

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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