10.12 Bitcoin rebounds strongly or is it a trap to lure more people? Beware of the risk of a decline! Latest market analysis

The market volatility is not very large over the weekend. It is expected to consolidate at a high level. Even if it breaks the previous high, it will fall back. The upper side will not rise too much. In terms of trend, there will be a sideways trend during the day. The possibility of further exploration is not ruled out. In terms of operation, it can be operated in the box again. Let's take a look at Liying's analysis of today's market

The current K-line pattern rose sharply yesterday, forming a long positive line, and then fluctuated at a high level. In the 4-hour cycle, the price quickly rose from the low of 61,140 on the 11th to above 63,000, but failed to break through continuously, showing a certain selling pressure.

Technical indicator MACD: Currently below the zero axis, although there are signs of recovery, we still need to be wary of possible weak rebound. The fast and slow lines are gradually approaching, and there is an expectation of a golden cross

The indicator RSI is currently close to 60, slightly bullish, and may continue to fluctuate in the short term. The trend indicator EMA price is running above EMA7 and EMA30, indicating a positive short-term trend;

But it is not far from EMA120, so we need to pay attention to the support of this moving average. The trading volume shows that the market activity is increasing, accompanied by large price fluctuations.

The trading volume then decreased, indicating that the market sentiment tends to be cautious and the wait-and-see atmosphere is strong, so there is a high probability that a downward trend will appear after a wave of inducement to buy, so we must be defensive to prevent sudden changes in the market

Today's point forecast: judgment (sideways)

Long point 61000, 60500 to cover long, stop loss 60000, target 63000

Short point 63500, 64500 to cover short, stop loss 65000, target 62000

Reason: Follow the trend and don't rush to buy against the trend. The content of the article is real-time and is for reference only. Risks are borne by yourself

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