Coin Circle Liying: 9.20 Bitcoin is "bullish"! MACD double lines are showing power! Latest market analysis reference
Article release time 2024.9.20-11:00
First look at the market. The current market K-line pattern shows an obvious upward trend, a strong rise starting from the 17th. From the 19th to the 20th, the K-line has appeared many times with long lower shadows, indicating that there is strong support below. Since the support is very strong, you can naturally test the long position and follow the trend. In this way, you can take more waves of profits back and forth. Technical indicators: MACD histogram continues to be above the zero axis, and DIF and DEA are both diverging upward, showing a strong bullish signal. The RSI value is currently around 69 and has a certain upward space that has not been completed. You can continue to look bullish. Look at EMA: The short-term, medium-term and long-term moving averages show a bullish arrangement, indicating that the bullish sentiment is strong in the short term and it is difficult for the bears to recover
In the hourly chart, the price fluctuated greatly in the last few hours, but the overall trend is oscillating upward. The 1-hour MACD fast and slow lines (DIF and DEA) are both above the zero axis. Although there are some pullbacks, it is still in a bull market. The 1-hour chart RSI is currently 63.4. This shows that we need to be alert to possible pullbacks in the short term. This must be prevented. Looking at the 1-hour EMA short-term, medium-term and long-term moving averages, they all support the current upward trend. Since the bullish trend is clear, the idea is to wait for a short-term retracement support before entering the market.
Comprehensive judgment (Liying recommends continuing to buy after a retracement)
Today's point forecast
Long point 62000, 61000 to cover long, stop loss 60500, target 64000
Short point 64000, 65000 to cover short, stop loss 65500, target 62500
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