Coin Circle Liying: 10.7 Bitcoin bulls broke out, who can stop the upward momentum of Bitcoin? Latest analysis
Article release time 2024.10.7-10:30
Bitcoin has now broken the previous high, the sideways trend over the weekend ended, and ushered in a unilateral upward trend. Since the closing at 8 o'clock in the morning, it has stretched from 62800 to 64000. The market is still in the trend of moving back, so it is expected to break further upward.
Looking at the price trend of the market, the current K-line pattern fluctuates in the range of 62000 to 64000, showing a fluctuating upward trend. The daily K-line shows a continuous positive line, indicating that the bulls are strong and can follow the trend. The technical indicator MACD 4-hour period bar chart turns from negative to positive, and the DIF line crosses the DEA line, showing a bullish signal, and the bulls are effective
The current RSI indicator value is 68 and may continue to rise in the short term. The trend indicator EMA price has broken through the EMA7, EMA30 and EMA120 moving averages, and EMA7 crosses EMA30 and EMA120, forming a long arrangement, supporting further rise. In addition, the increase in trading volume has led to the dominance of bulls, so Liying's idea is to be long as the main and short as the auxiliary
Today's point forecast: Liying judgment (up)
Long point 63000, 62000 to cover long, stop loss 61500, target 65500
Short point 65500, 66000 to cover short, stop loss 66500, target 64000
Reason: Go with the trend, follow the trend, stop loss points are all outside the pressure and support, the content of the article is real-time, for reference only, risk at your own risk
The above is Liying's brief analysis of the current market situation for investors' reference. In the past ten years, Liying has been exploring and experiencing hundreds of digital assets of all kinds. In this process, Liying experienced the glory of the bull market and the bleakness of the bear market, stumbling along the way and accumulating countless valuable experiences and profound lessons. As a female trader struggling in this challenging field, Liying feels a deep responsibility to share her experience and insights, hoping to help other people with dreams find their place in this turbulent market and start their own journey to success.
