K-line pattern and technical analysis:
The market has shown an obvious upward trend recently, especially starting from July 5, it has closed with a positive line for several consecutive days.
However, the K line on July 8 showed a long upper shadow line, suggesting that there is a certain amount of selling pressure at the high level.
Technical indicator analysis:
- MACD indicator: * Both the fast and slow lines of MACD are showing an upward trend, and the DIF line crosses the DEA line to form a golden cross, showing a strong bull signal.
- RSI indicator: The RSI value is 64.49, which is close to the overbought area, but has not yet reached the extreme overbought state, indicating that there is still room for growth.
- EMA indicator: short-term EMA(7) > medium-term EMA(30) > long-term EMA(120), the moving averages are arranged in a long position, supporting the current upward trend.
Trading volume analysis:
The trading volume on July 7 and July 8 increased significantly, showing that market activity increased and the competition between long and short parties was fierce.
Although the trading volume fell back on July 8, it still remained at a high level, indicating that the market still has a high degree of recognition of the current price level.
