2024.10.17 Market Analysis

The overall market of Cake has shown a strong unilateral upward trend recently. Although there have been some adjustments and corrections, this is normal and it is impossible to rise every day. Yesterday, the price broke through the recent high point and rose all the way to 68400 before falling under pressure. However, the correction was small and the current trend is consolidating around 67200.

From the daily level, the K line has closed positive for three consecutive days, and the Bollinger Bands are still open. Although the current trend is suppressed by the upper rail and is in a consolidation stage, the bullish sentiment is still strong. In the 4-hour level, the Bollinger Channel has closed, the upper rail has turned downward, and the lower rail has not stopped moving up. The MACD histogram has turned from positive to negative, the fast and slow lines have formed a dead cross, and the KDJ indicator has diverged downward. The current price is above EMA60 and EMA120, and is in the ant rising channel. However, there may be some adjustment needs in the short term. We need to pay attention to the breakout of 66500 in the future. The spot is held and the leverage is stable during the day or mainly low-long! #BTC