Today's market analysis - September 2, 2024 - Monday
Today I use two methods to analyze the current market:
① Moving average (#EMA )
According to the comparison and analysis of detailed indicators such as the 4-hour level and the 1-hour level, the current market is a bear market. Don't go long easily. You need to find a strong and effective support level before considering opening an order.
② Trend line
The high point of $BTC is constantly moving down, forming a short-term bear market, but due to the large cycle market at the end of last year and the first half of this year, a relatively long-term bull market has formed below. Although there are pins, the trend has been gradually upward. Now it has reached the triangle convergence and the trend is gradually clear. It is recommended not to open an order easily at present and wait for effective support.
The detailed explanation is marked on the moving average chart
Figure 1: 4-hour level market analysis
Figure 2: 1-hour level market analysis
Figure 3: 1-hour level MACD bottom divergence signal explanation
Figure 4: Daily level trend market analysis
