Lao A's Interpretation of [4-hour $BOME price analysis] on September 24, 2024
Overview of K-line and trend:
Recently, BOME coin has shown an upward trend, especially the two days from September 26 to 27. The K-line on September 27 was even more vigorous, sweeping the previous high. Although there was a slight decline on September 28, the overall momentum is still high.
Interpretation of technical indicators:
1. MACD: The market is currently in a strong bull market, the MACD fast and slow lines are firmly above the zero axis, and DIF and DEA are still climbing upward.
2. RSI: The RSI value is close to 70, entering the so-called "overbought" area, but there is no obvious divergence signal at present, indicating that the market heat is not reduced.
3. EMA moving average: The short-term, medium-term and long-term EMA moving averages are in a bullish arrangement, providing strong support for further price increases.
Volume analysis:
Trading volume increased significantly on September 27. As prices rose, the enthusiasm of capital entering the market was clearly felt. Although trading volume fell on September 28, prices remained relatively high, indicating that there was little selling pressure in the market and bulls had the upper hand.
Buying and selling point recommendations:
Buying time:
1. The first recommended buying point is 0.0075 USDT, because this price is close to the previous low and the support level of EMA30.
2. The second recommended buying point is 0.0073 USDT. This price is closer to the low point of the previous wave of market, and it is also an integer mark, which has a strong support effect.
Long risk control:
If the price falls below 0.0071 USDT (200 basis points lower than the second buying point), be vigilant, which may mean that an important support level has been lost.
Selling time:
1. The first recommended selling point is 0.0082 USDT. This price is the pressure level above the current price and is close to the recent high.
2. The second recommended selling point is 0.0084 USDT. If the price breaks through the previous high, this price is a further upward target, and there may be selling pressure at the integer level.
Short-selling risk control:
If the price breaks through 0.0086 USDT (200 basis points higher than the second selling point), it is recommended to short-sell and stop loss to prevent the market from continuing to rise.
The above is only personal opinion, for reference only
