Crypto Master Community: Bitcoin October 3rd [Market Analysis]
[Price Trend Analysis]
K-Line Pattern:
The daily level shows that the price has been rising continuously since September 30, from 114048.94 to 120242.74, forming a clear bullish trend.
At the 4-hour level, there were consecutive bullish candles from October 2 to the morning of October 3, but currently, there is high-level volatility, and there may be a pullback pressure in the short term.
Technical Indicators:
MACD:
The daily level DIF and DEA are both above the zero axis, indicating strong bullish momentum, but the histogram is starting to shorten, so caution is needed for divergence risk.
At the 4-hour level, DIF and DEA continue to diverge upwards, but the histogram is gradually weakening, indicating a potential need for adjustment in the short term.
RSI:
The daily level RSI is around 78, in the overbought range, indicating that market sentiment is overheated.
The 4-hour level RSI has slightly decreased from 84 to 78, still maintaining in the overbought area, suggesting a possibility of correction in the short term.
EMA:
EMA7, EMA30, and EMA120 are in a bullish arrangement, and the price is consistently above EMA7, indicating that the overall trend remains upward.
The current price is close to the previous swing high (120550); if it breaks through, it will further open up upward space; otherwise, it may retest the EMA support.
Trading Volume:
The daily level trading volume significantly increased between October 1 and October 2, accompanied by a rapid price rise, indicating strong capital momentum.
The 4-hour level trading volume gradually shrank on October 3, indicating a weakening willingness to chase prices at current highs, and attention should be paid to the subsequent volume-price coordination.
Wishing you successful trading!
[The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow the real-time strategies of Crypto Master.]
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