Today's market analysis --- BTC
From October 16th to today, the price has been fluctuating at a high level, forming multiple K-lines with long upper shadows, indicating heavy selling pressure from above.
There have been continuous small corrections at the daily level, but the overall trend is still upward.
MACD: The 4-hour MACD fast and slow lines are running above the zero axis, and the bar chart has turned from negative to positive, indicating that the bulls are strengthening.
RSI: The RSI value fluctuates between 60-70, approaching the overbought area but not entering it, and there may be a need for adjustment in the short term.
EMA: The current price is above EMA7 and EMA30, indicating that the short-term trend is still upward; EMA120 is far below the current price, and the long-term trend remains strong.
At present, the market sentiment is high, and the main force is still bullish.
Personal thoughts: You can try to place a short order at 68000, with a stop loss of 68600
The first position is 66100, and the second position is 64800
Here is an explanation of why the stop loss is set at 68600 (on the evening of October 16 and the morning of October 18, 68500 was tested twice but failed to break through). If this wave breaks through the upward resistance, 72000 will be the target.
Although this wave of operation is very risky, if it goes down, the profit will be very considerable.
