[Buy and sell points]
Buy point 1: 1.7200 USDT (considering the support of EMA(7) and EMA(30), the price may rebound at this level)
Buy point 2: 1.7000 USDT (near the recent low point, if the price drops further to this level, it can be regarded as a more attractive buying opportunity)
Long stop loss point: 1.6830 USDT (slightly lower than the lowest price in the recent cycle, providing enough space to avoid small fluctuations triggering stop loss)
Sell point 1: 1.7500 USDT (the resistance level that has been tested many times recently but failed to break through, suitable as an initial profit-taking point)
Sell point 2: 1.7650 USDT (the high point area after 00:00 on October 5, if the price can rise to this level, it may face greater selling pressure)
Short stop loss point: 1.7750 USDT (above the second selling point, giving the market enough room for fluctuations, and also an important high point in the near future)
[Price trend analysis]
K-line pattern:
The recent K-line shows that price fluctuations have intensified, especially from 17:00 to 21:00 on October 4, when a large price amplitude appeared, indicating that there is uncertainty in the market.
From the recent hours, the price has fallen back. For example, from 11:00 to 17:00 on October 6, the closing price was lower than the opening price, forming a series of short real negative lines, suggesting that the seller's strength has increased.
Technical indicators:
MACD indicator: The latest MACD value is positive (0.0011), but both DIF and DEA are close to zero and DIF crosses below DEA, which may indicate a potential trend reversal.
KDJ indicator: The J value (44.09) is higher than K (42.93) and D (42.35), but it is in the neutral area as a whole, and no obvious overbought or oversold signals are seen.
EMA indicator: The current price is slightly higher than EMA (7) and EMA (30), indicating that the upward trend has not been completely reversed in the short term, but we need to be alert to the risk that EMA (7) will soon cross below EMA (30).
The trading volume has gradually decreased since it reached its peak at 20:00 on October 5, which is consistent with the price trend, indicating that the upward momentum has weakened.
The trading volume has been stable but not high in recent cycles, and there is a lack of obvious volume expansion, which may mean that market participants are in a wait-and-see mood.
