Crypto Master Community: Bitcoin October 11th [Market Analysis]
【Price Trend Analysis】
- K-line Pattern:
The daily chart shows a continuous price decline recently, forming a large bearish candle followed by a slight rebound, but overall it remains in a downward trend.
In the 4-hour timeframe, there is a consolidation after a sharp drop, with the current K-line showing long upper and lower shadows, indicating increased market divergence.
Technical Indicators:
MACD: Both the daily and 4-hour charts are in negative territory, with the fast and slow lines continuing to diverge downwards, and the momentum bars are expanding, indicating that bears are in control.
RSI: The daily RSI value is 21.33, close to the oversold zone; the 4-hour RSI is hovering at a low level with no significant signs of recovery.
EMA: Prices have fallen below EMA7, EMA30, and EMA120, with short-term moving averages declining rapidly and long-term moving averages gradually following, exerting significant pressure.
Trading Volume:
The daily trading volume on October 10th surged to 64,172, then shrank to 12,499, indicating that market sentiment has become cautious after the sharp drop.
In the 4-hour timeframe, trading volume fluctuated significantly, increasing during the sharp drop and gradually shrinking during the consolidation.
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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