💥Analysis of BTC price trend on January 3, 2024: [Shocking decline]
1.K line form:
The recent K-line shows large price fluctuations. For example, the highest price of 45963.7 and the lowest price of 45686.2 at 17:00 on January 2 are compared with the closing price of 45755.5, which is manifested as a small entity with a long upper shadow line, suggesting seller pressure.
The K-line square showed a short entity for two consecutive hours from 00:00 to 03:00 on January 3, indicating that the market was less decisive in this range.
2.Technical indicators:
In the MACD indicator, DIF crosses DEA (die cross), and the MACD value is negative, indicating that it may be in a downward trend. In the KDJ indicator, the K value and D value are both below 50, and the J value has declined, suggesting that there may be further decline in the short term. Downside risks.
The EMA indicator shows that EMA(7) is always above EMA30), but the gap is gradually narrowing, and if EMA(7) crosses EMA(30) downwards, it may generate a bearish signal.
3. Trading volume:
Trading volume began to gradually decrease after reaching a peak at 22:00 on January 2, which is consistent with the price trend, indicating that the upward momentum has weakened.
Trading volume has been stable in recent cycles, with no significant increase or decrease in volume, and the activity of market participants remains consistent.
