BTC’s 1-hour price trend: sideways.
【Buy and sell points】
Buying point 1: 68500 USDT (EMA(7) and EMA(30) are in a golden cross, the short-term trend is upward, but considering the weakening momentum of MACD, choose the price close to the current EMA(30) as a more conservative buying point)
Buying point 2: 68000 USDT (the lowest price of 68006 appeared at 01:00 on October 20, which can be regarded as the recent support level. If the price falls back to this level, there may be buying intervention)
Long stop loss point: 67800 USDT (leaving 200 USDT space to avoid small fluctuations triggering stop loss, and also below the psychological key support level of 68000)
Selling point 1: 69500 USDT (the highest price of 69546 formed at 08:00 on October 21 can be used as the initial resistance level and is suitable as the first selling target)
Selling point 2: 70,000 USDT (a psychologically critical integer, 500 USDT higher than selling point 1, providing considerable profit margin)
Short stop loss point: 70500 USDT (above the psychological key level of 70000, and leave enough space to avoid triggering the stop loss due to small fluctuations)
【News Interpretation】
The news shows that Ethereum ETF increased its holdings while Grayscale ETHE reduced its holdings, indicating that institutional investors have different attitudes towards ETH, but the overall market inflows are positive. Community sentiment may fluctuate as a result, but the increase in holdings by BlackRock and Fidelity provides support. BTC is currently priced at $69,095.6. Considering the market capital flow and the behavior of large institutions, the short-term bullish expectations still exist. Investors are advised to keep an eye on market dynamics and adjust strategies in a timely manner. In the long term, they need to evaluate the broader economic environment and policy impacts. Today's recommendation: cautiously bullish.
【Price trend analysis】
K-line pattern:
The recent K-line shows that the price fluctuates greatly, and the highest price of 69546 appeared at 08:00 on October 21, and then fell back. The price fell in the current hour, indicating that the selling pressure has increased in the short term.
Judging from the long and short entities, there is an alternation, suggesting that the market has different opinions within this price range, which may indicate a trend change.
Technical indicators:
Both DIF and DEA in the MACD indicator are positive, but the MACD histogram (115.1) is slightly lower than the previous period (136.4), indicating that the bullish momentum has weakened.
In the KDJ indicator, the J value (60.52) is smaller than the K value (65.56) and the D value (68.08), and the K and D lines are at high levels, so a downward turning point may occur.
Among the EMA indicators, EMA(7) (69015.5) is higher than EMA(30) (68627.8). The short-term moving average crosses the long-term moving average, showing an upward trend.
Volume:
The latest trading volume (111.5357) has decreased compared to the previous cycles, indicating that the activity of buyers and sellers has decreased.
High trading volumes are often accompanied by rapid price changes. For example, the trading volume reached 865.1229 during the 06:00 period on October 21, corresponding to large price fluctuations.
At present, BTC is likely to go sideways
Personal opinion, for reference only
