2024.10.4 Market Analysis

The intraday market of Bitcoin continued yesterday's consolidation. The upper price tested the pressure level near 61,300, and the lower support was near 60,000. Although the market is bearish, it is not recommended to chase the short position. After all, it is already October, and the market has been washed for more than 200 days. A big bull market may start at any time!

The daily level is supported by the 200-day moving average. If it does not fall below the National Day, it is expected to rise. If it falls below the next support of 57,000, it will be difficult to see if it falls again. The 4-hour level inserted multiple lower shadows downward, and the bottom divergence began. The volume rebounded with shrinking volume. In the short term, it is still dominated by shocks. There will be non-agricultural data at 20:30 in the evening, which may change this situation.

Summary: Bitcoin is still the strongest, oscillating back and forth around the weekly level, followed by Solana second, BNB third, and Ethereum fourth. Most of the cottages have been setting new lows, and they have fallen back to the origin or lower. It really fits the saying: You want the interest of the dog dealer, and the dog dealer wants your principal. All those who cut you are cottages! Therefore, large funds should still focus on the top four! Small funds should observe the historical trends and buy strong leading copycats! #BTC #SOL #BNB #ETH