💥 Reference for BTC price trend analysis on January 4, 2024: [Sideways]

K-line pattern: The recent K-line shows large price fluctuations, especially a significant decline between 20:00 on January 2 and 20:00 on January 3, with the lowest price touching 40333, which may indicate seller power. Strong. Prices subsequently recovered.

During the time period from 19:00 on January 3 to 07:00 on January 4, the price showed a volatile upward trend, but the increase was limited, and a combination of short entities and long upper shadows appeared many times, indicating that upward pressure still exists.

Technical indicators: DIF and DEA in the MACD indicator are both negative, and the MACD histogram also shows negative values. Although the MACD value has increased in recent hours, the overall situation is still in the short zone.

The J value in the KDJ indicator is higher than the K value and D value at the latest data point, suggesting that there may be an overbought situation and you need to be alert to the risk of reversal.

The EMA indicator shows that the 7-period EMA (42823.3) is slightly lower than the 30-period EMA (43717.5), indicating that the market trend is weak in the short term, but the gap is narrowing.

Volume: A surge in trading volume occurs when prices fall sharply (such as 20:00 on January 3), which usually means strong market sentiment and a possible trend shift.

Subsequently, trading volume gradually decreased, indicating that market participants' uncertainty increased and the market may enter a wait-and-see state at this stage.