btc

The recent K-line has shown an obvious downward trend, especially between October 9 and 11, when the price dropped from 62131.8 to 60184.

Within the 4-hour period, multiple long upper shadow lines and negative lines appeared, indicating heavy market selling pressure.

Technical indicators:

MACD: In the 4-hour cycle, the MACD histogram continues to be negative and gradually shortens, and DIF and DEA are both below the zero axis, indicating that the bearish power has weakened, but it is still in a bearish market.

RSI: The RSI value is hovering between 30 and 40, which is close to the oversold zone. There may be demand for a rebound, but it has not yet entered a strong zone.

EMA: The current price is below EMA7, EMA30 and EMA120, indicating that the overall trend is bearish. EMA7 and EMA30 formed a dead cross and continued to diverge downward, further confirming the downward trend.

Volume:

Daily trading volume reached a peak on October 9 and then fell back, indicating a decrease in market activity.

Within the 4-hour period, trading volume increases significantly during large fluctuations, especially during periods of drastic price movements, such as the sharp drop at 00:00 on October 10.