Analysis by Cai Ge on September 20, 2024 [Bitcoin two-hour trend analysis]
Chart pattern: The recent K-line chart reveals obvious upward momentum, especially the significant positive lines on September 19th and 20th. The most recent peak was at 63830.1 on September 20, while the trough was at 59138 on September 18.
Technical indicator analysis:
The MACD indicator shows that both the DIF and DEA lines are positive and continuing to grow, and the MACD histogram is also expanding, which indicates that the market is currently in a strong bull market.
The RSI index is currently around 67.1, which is close to but not overbought territory, suggesting that there may be a slight correction in the short term.
The EMA indicator shows that the price is higher than EMA7, EMA30 and EMA120, and EMA7>EMA30>EMA120, showing an obvious long arrangement, showing strong support. Pay special attention to the support levels of EMA7 (62917.1) and EMA30 (61510.9).
Trading Volume Analysis: The trading volume on September 19 increased significantly to 302,382, showing a large inflow of funds, driving the price upward. Trading volume declined on September 20, but remained at a high level, reflecting positive market sentiment.
Bitcoin’s two-hour trend: showing an upward trend (personally bearish)
【Trading Strategy】
Buying strategy one: 61500 USDT (close to the EMA30 support line, and also a psychological integer level)
Buying strategy two: 60500 USDT (close to the low of the previous fluctuation, there is strong buying support)
Stop loss point: 60000 USDT (below the integer mark to avoid false breakouts) Sell
Strategy 1: 64000 USDT (close to the recent high of 63830.1, there may be selling pressure)
Selling strategy two: 65,000 USDT (integer mark, may become a new pressure point)
Stop loss point: 65500 USDT (above the integer mark to prevent false breakthroughs)
Please note that the above analysis is for reference only. When making actual transactions, please make decisions based on real-time market conditions and personal risk tolerance.
