The great master said: The 110,000 mark is within reach! Bitcoin has shown a V-shaped reversal!

Bitcoin entered a volatile downward mode after hitting a historic high of $99,588 over the recently concluded weekend. Yesterday evening, it began a significant pullback from around $98,500, reaching a low of $95,745 at midnight. However, as of the time of writing, it has rebounded slightly, currently quoted at $98,528, down 0.13% in the past 24 hours.
**　　In the context of Bitcoin's decline, the total liquidation amount across the cryptocurrency market in the past 24 hours reached $495 million, with long positions liquidating $364 million and short positions liquidating $131 million, affecting over 193,000 people.**
**　　Bitcoin Daily Chart**
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**　　Firstly, according to the Bollinger Bands indicator on the Bitcoin daily chart, the current price is operating near the upper band and has briefly broken above it, indicating that the bulls remain strong. However, the excessive upward movement suggests a possibility of a pullback. If the price continues to operate near the upper band without breaking below the middle band, it indicates that the bullish pattern remains unchanged. However, if the price breaks below the middle band of the Bollinger Bands, a deeper pullback may occur.**
**　　Secondly, according to the KDJ indicator on the Bitcoin daily chart, the K and D values are at high levels, and the J value is already in the overbought zone. The K and D values show signs of turning downward, indicating a potential risk of a pullback in the short term. If the KDJ three-line values form a death cross downward, downward pressure will increase. However, if it can maintain a high-level consolidation without forming a death cross, there may still be a possibility of further upward movement.**
**　　Finally, according to the MACD indicator on the Bitcoin daily chart, both the DIF and DEA lines are operating above the zero axis, but the two lines are gradually converging. If a death cross forms subsequently, the market will likely begin a pullback. Although the MACD histogram is showing red, there are signs of shortening, indicating that the upward momentum is gradually weakening.**
**　　Bitcoin Four-Hour Chart**
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**　　Firstly, according to the Bollinger Bands indicator on the Bitcoin 4H chart, the current price is oscillating between the middle band and the upper band, with the upper band exerting some pressure on the price. The middle band serves as support; if it breaks below the middle band, the price may move towards the lower band. If the price returns to the upper band of the Bollinger Bands and breaks through, it will continue to move upward.**
**　　Secondly, according to the KDJ indicator on the Bitcoin 4H chart, the KDJ three-line values are operating at high levels, but the K and D values show signs of turning downward, and the J value has begun to decline, indicating short-term pullback pressure after being overbought. If the K value crosses below the D value forming a death cross, it may trigger deeper downward pressure. If the KDJ continues to form a golden cross upward after consolidating at high levels, the upward trend will continue.**
**　　Finally, according to the MACD indicator on the Bitcoin 4H chart, the MACD red histogram continues to shorten, indicating that the upward momentum has weakened. The DIF line is also approaching the DEA line; if a death cross forms subsequently, the risk of a short-term decline will increase. If the DIF line continues to rise and moves away from the DEA line, it indicates that the bullish strength still prevails.**
**　　Comprehensive Analysis: From the Bitcoin daily chart, it can be seen that Bitcoin is currently in a high-level consolidation phase after a strong upward movement. Both MACD and KDJ indicate that there may be adjustment pressure in the short term, but the Bollinger Bands still show the presence of bullish strength. The Bitcoin 4-hour chart shows signs of weakening short-term momentum, mainly reflected in the shortening of the MACD red histogram, the downward turn of KDJ, and the pressure from the upper band of the Bollinger Bands. However, the middle band of the Bollinger Bands still provides support, and the overall trend has not completely weakened.**
**　　In summary, the following suggestions are provided for reference:**
**　　Suggestion 1: Buy Bitcoin on a pullback to around $98,000-$97,800, targeting $99,800-$100,000, with a stop loss at $97,400.**
**　　Suggestion 2: Short Bitcoin on a rebound to around $99,800-$100,000, targeting $97,600-$97,400, with a stop loss at $100,400.**
**　　Time of writing: (2024-11-25, 18:00)**
**　　(Article by: Daxian Says Coin)**