Crypto Master Community: Bitcoin October 21st [Market Analysis]

[Price Trend Analysis]

1. K-Line Pattern:

• The daily level shows that the recent price has rebounded from the low of 106431.68 on October 17th, closing with three consecutive bullish candles, forming a short-term upward trend.

• In the 4-hour cycle, the price is oscillating and consolidating above the integer level of 110000, with the current K-line showing slight fluctuations and no significant directional breakout.

1. Technical Indicators:

   • MACD: The 4-hour MACD red bars continue to expand, but the DIF and DEA are still below the zero axis, indicating that bullish strength has increased but has not yet fully dominated. The daily MACD is gradually reducing the green bars, approaching a golden cross state.

   • RSI: The 4-hour RSI is at 59.39, in a neutral to strong area, indicating relatively optimistic market sentiment; the daily RSI is at 62.27, entering the overbought range, posing a risk of correction.

   • EMA: The 4-hour EMA7 (110381.34) has crossed above EMA30 (109545.50), and the moving averages are diverging upwards, showing strong support; EMA120 (113099.33) is still far from the current price, indicating significant long-term resistance.

2. Trading Volume:

• The daily trading volume has gradually decreased since October 17th, from 37921 to 18467, indicating a weakening of capital inflow, and caution is needed regarding potential adjustments due to insufficient subsequent momentum.

• The 4-hour trading volume remains stable overall, with the latest K-line trading volume at 640, showing a significant contraction compared to previous K-lines, indicating an increase in market wait-and-see sentiment.

  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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