【BCH Price Trend Analysis】4-hour price trend: sideways
1. K-line pattern:
-Recent daily K-lines show large price fluctuations. On March 29, a long upper shadow positive line appeared, indicating that although there was buying, the final closing price failed to remain near the highest point, and there may be selling pressure.
-In the 4-hour K-line, the K-line at 08:00 on March 30 was a negative line with a small body and a long lower shadow, suggesting that the price fell after the opening due to selling pressure.
2. Technical indicators:
-In the MACD indicator, DIF and DEA are both in the positive area, and the MACD histogram (6.63) is still positive, but it has decreased compared with the previous cycle, indicating that the bulls are weakening.
-The KDJ indicator J value (66.25) is lower than the K value (73.18) and D value (76.64), which may indicate that the trend is weakening in the short term.
-EMA7 (604.20) is above EMA30 (545.31), indicating that the short-term trend is upward relative to the long-term trend, but it is necessary to pay attention to whether EMA7 will turn downward.
3. Volume:
-Daily volume gradually decreased after reaching a peak on March 27, which may mean that market activity has declined.
-4-hour volume also fell after reaching an extremely high level at 16:00 on March 29. Combined with the sharp rise in prices at that time, it can be seen as a signal of active buyer intervention.
