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Brother Cai September 18, 2024: BTC and ETH analysis trend
[Interpretation of Bitcoin Market Dynamics]
Chart analysis: At the daily level, on September 17, the price of Bitcoin broke through the previous peak of 61345 with a long white candle, and then the price fell back, showing the volatility of the market. At the hourly level, the price of Bitcoin fluctuated between 60,000 and 61,000 US dollars, and the 60,200 US dollars became a test support level many times.
Technical indicator analysis: MACD: At the hourly level, the fast line and slow line (DIF and DEA) of MACD are above the zero line, but show a flattening trend, suggesting that there may be adjustments in the short term.
RSI: The hourly RSI index is close to 60 and has not reached the overbought area, indicating that there is still potential for growth, but we need to pay attention to a possible pullback.
Chart analysis: At the daily level, on September 17, the price of Bitcoin broke through the previous peak of 61345 with a long white candle, and then the price fell back, showing the volatility of the market. At the hourly level, the price of Bitcoin fluctuated between 60,000 and 61,000 US dollars, and the 60,200 US dollars became a test support level many times.
Technical indicator analysis: MACD: At the hourly level, the fast line and slow line (DIF and DEA) of MACD are above the zero line, but show a flattening trend, suggesting that there may be adjustments in the short term.
RSI: The hourly RSI index is close to 60 and has not reached the overbought area, indicating that there is still potential for growth, but we need to pay attention to a possible pullback.
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