Coin Circle Liying: Bitcoin rose strongly on September 19, and the four-hour K-line showed bullish power! Latest market analysis
Article release time 2024.9.19-10:05
The news of a 50 basis point interest rate cut has landed, and the president of the currency circle has publicly used Bitcoin for consumption. Bitcoin has overcome all difficulties, and the four-hour K-line has broken 62,500. Liying will first analyze the current four-hour K-line pattern from the price trend of the market: it shows an obvious upward trend, especially the strong rise that started on the 17th. A short-term support level was formed near 61,800, and it was not broken after multiple tests.
The technical indicator MACD runs above the 0 axis, and DIF and DEA both diverge upward, indicating that the current market is in a bull market. RSI is currently around 65 and still has some upward space. EMAs are all in a bullish arrangement, and prices continue to run above EMA7, showing strong upward momentum,
In addition to the increase in trading volume, market sentiment is strong, especially on the big positive line on the 17th, breaking through the previous high with large volume. In the subsequent callback process, the trading volume decreased, indicating that the selling pressure was not large, and the bulls still dominated the overall trend. The bulls were dominant.
Comprehensive judgment (Liying suggested to continue to buy after the retracement)
Today's point forecast
Long point 60500, 59500 to cover long, loss 59000, target 62500
Short point 63000, 64000 to cover short, loss 64500, target 61000
The above is Liying's brief analysis of the current market situation for investors' reference. In the past ten years, Liying has been exploring and experiencing hundreds of digital assets of all kinds. In this process, Liying has experienced the glory of the bull market and the bleakness of the bear market. She has accumulated countless precious experiences and profound lessons along the way. As a female trader who strives in this challenging field, Liying feels deeply responsible to share her experience and insights, hoping to help other people with dreams find their place in this turbulent market and start their own journey to success.
