Coin Circle Liying: On October 23, Bitcoin fell below 67,000. Can the rebound to 66,500 start a new round of rise? Latest market analysis

Article published on 2024.10.23—01:00

The current price of Bitcoin has fallen below 67,000. The current lowest price has just rebounded to around 66,500, and the highest price has reached 67,700. It is only 300 points away from 68,000. There is more than 1,000 points of space to be captured. The market has once again shown signs of high-level consolidation. The decline of the rising channel is considered empty, and the high-level sideways movement is considered shipping. The main force's consolidation at this time is purposeful, so it is necessary to defend. For specific details, please see Liying's statement.

First of all, from the analysis of price trend, the current K-line pattern of the market is obviously in a downward trend of shock, and the price has fallen from a high level. There are continuous negative lines on the daily chart, indicating that the market has a large selling pressure. In the technical indicator MACD 4-hour cycle, DIF and DEA are both below the zero axis, and the MACD histogram is negative, indicating that the short-selling force is dominant.

The current RSI of the relative strength index is close to 40, not in the oversold zone, but still in a weak area. The EMA price is currently lower than EMA7, 30 and 120. The short-term, medium-term and long-term moving averages are in a short position, further confirming the downward trend. In addition, the trading volume has increased in recent trading days, especially when the price falls, indicating that the long and short positions have entered a more intense stage. The market has reached a key support point. Be prepared for both hands and don't be washed out.

Today's point forecast: Pay attention to the support point. If it is not broken, then go long. If it is broken, then go short.

Go long at 66000, add more at 65000, stop loss at 64500, target at 67500

Short point 68000, short at 69000, stop loss 69500, target 66500

Reason: It is close to the previous low point, and the integer level may form support. Further downward exploration to a stronger support area, while close to EMA120 and close to the recent high point, the integer level may form pressure. After breaking through, the upward space will open, but there is still selling pressure near the previous high point. Safety first, the content of the article is real-time, for reference only, at your own risk

The above is a brief analysis of the current market conditions by Liying for investors' reference. In the past ten years, Liying has been exploring and experiencing hundreds of various digital assets. In this process, Liying has experienced the glory of the bull market and the bleakness of the bear market. She has accumulated countless valuable experiences and profound lessons along the way. As a female trader struggling in this challenging field, Liying feels a deep responsibility to share her own experience and insights, hoping to help other people with dreams find their place in this turbulent market and start their own journey to success.