Crypto Master Community: Bitcoin October 7th [Market Analysis]

[Price Trend Analysis]

1. K-line Pattern:

• The daily level shows that recent prices are oscillating at a high level, with long upper shadows formed on October 5th and 6th, indicating strong selling pressure above.

• In the 4-hour cycle, prices have continuously closed in the red after retreating from a high of 125790, currently in an adjustment phase, with short-term support focusing around 123633.

1. Technical Indicators:

   • MACD: The 4-hour MACD continues to show expanding green bars, with the DIF and DEA crossing downwards, indicating weak momentum; the daily MACD shows a reduction in red bars, signaling a clear weakening trend.

   • RSI: The 4-hour RSI has gradually retreated from the overbought zone (above 72) to 59.3, showing a decline in bullish strength; the daily RSI remains around 60, not yet entering the oversold zone.

   • EMA: The 4-hour EMA7 has fallen below EMA30 and is close to EMA120, with short-term moving averages showing a bearish arrangement; the daily EMA7, EMA30, and EMA120 maintain a bullish arrangement, but EMA7 is starting to flatten, indicating signs of weakening.

2. Trading Volume:

• The daily trading volume reached 8311 on October 5th and has gradually decreased since, indicating a decline in market activity.

• The trading volume in the 4-hour cycle has generally shrunk, reflecting a strong wait-and-see sentiment among investors.

• 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 refer to Crypto Master’s real-time strategies.]

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