Crypto Master Community: Bitcoin November 1st [Market Analysis]
[Price Trend Analysis]
- K-Line Pattern:
In the recent 4-hour period, the price has been fluctuating around 110,000, forming a slight consolidation pattern.
The daily level shows that the closing price on October 31 increased by 1,844.5 points compared to the previous day, indicating a rebound trend, but overall it is still in the recovery phase after a decline.
Technical Indicators:
MACD: In the 4-hour period, the MACD histogram remains negative but is shortening, indicating a weakening of bearish strength; the fast and slow lines are gradually approaching, which may signal a golden cross.
RSI: The current RSI is 46.4, in the neutral zone, not entering the overbought or oversold range, indicating a stable market sentiment.
EMA: The price is currently below the EMA7, EMA30, and EMA120 moving averages, and EMA7 < EMA30 < EMA120, indicating that the trend is still bearish, but there are signs of stabilization in the short term.
Trading Volume:
Recently, trading volume has increased, especially on October 30 when the price plummeted, indicating a concentrated release of selling pressure.
The current trading volume in the 4-hour period has significantly decreased to only 371, with a strong 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 refer to the real-time strategies of Crypto Master.]
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