8.22 Bitcoin (BTC) Market In-depth Analysis
K-line pattern: The recent K-line shows large price fluctuations. A long upper shadow line appeared at 04:00 on August 22, indicating heavy selling pressure at high levels. There were several long lower shadows during the decline from 07:00 on August 21 to 23:00 on August 20, suggesting that low-level buying intervened, and the strength of both long and short sides was tense. The overall trend maintained a range.
Technical indicator MACD: The latest MACD value is positive and DIF is above DEA, showing the characteristics of a bull market. However, the MACD histogram is gradually shrinking, and it is necessary to pay attention to possible trend changes; KDJ indicator: The J value (74.86) is in the overbought area, while the K line and D line are both upward, which may indicate continued bullishness in the short term, but we must also be wary of the risk of a pullback; EMA indicator: The 7-period EMA (60881.3) is higher than the 30-period EMA (60070.5), and the short-term moving average crosses the long-term moving average, supporting the current upward trend.
Trading volume: After reaching a peak at 03:00 on August 22, trading volume began to gradually decrease, reflecting a decline in market activity. In the past few hours, trading volume has been relatively stable, with no obvious increase or decrease. It is necessary to further observe the relationship between trading volume and price trends.
