Cryptocurrency Circle Li Ying: 10.22 History Repeats? Bitcoin Enters Another Intense Bull-Bear Turbulence, Who Will Laugh Last? Latest Market Analysis
Article Published on 2024.10.22—01:30
Bitcoin Plays Out a Double Kill for Bulls and Bears; Reality is Always Harsh, Especially When the Market Has Already Moved. Bitcoin's High Has Surpassed 69,500, Just A Few Hundred Points Away from the 70,000 Mark. Li Ying's Article Yesterday Provided a Strategy with 69,000 as the First Short Target, Unfortunately, the Second Target of 70,000 Was Not Reached, and the Final Target of 68,000 Only Gained 1,000 Points. Currently, the Lowest Point Has Dropped Below 67,000; From the Overall Trend Perspective, As Long as It Doesn't Fall Below 66,500, the Bullish Trend Remains. It Will Depend on the Upcoming Trading Volume to See Li Ying's Further Statements
First, Analyzing the Price Trend, the Current K-Line Pattern in the Market Is Fluctuating at a High Level, with Multiple Long Upper Shadows, Indicating Heavy Selling Pressure Above. On the Daily K-Line Chart, the 21-Day Line Formed a Large Bearish Candle, Indicating Strengthening Bearish Forces. The Technical Indicator MACD on the 4-Hour Cycle Is Below the Zero Axis, with Both DIF and DEA Diverging Downward, Indicating the Possibility of Further Adjustments in the Short Term
The Relative Strength Index (RSI) Has Receded from the Overbought Zone and Is Currently Close to 50, Indicating a Neutral Market Sentiment, But Caution Is Still Required for Further Weakening. The Trend Indicator EMA Currently Shows Price Falling Below EMA7 and EMA30 Has Also Been Touched; If It Cannot Stabilize at This Position, It May Test Lower Support. Additionally, the Current Trading Volume Has Increased with Price Decline, Indicating Increased Selling Pressure. In Recent Trading Periods, Trading Volume Has Decreased, and Market Sentiment of Wait-and-See Is Rising, Indicating the Bulls and Bears at High Levels Have Started a New Round of Fierce Battle. At This Time, The Strategy of High Selling and Low Buying Should Still Be Followed
Today's Point Forecast: Li Ying Judging Short-Term High-Range Box Fluctuation
Long Entry Point 66,500, Add Long at 66,600, Stop Loss at 65,500, Target 68,000
Short Entry Point 68,500, Add Short at 69,500, Stop Loss at 70,000, Target 67,000
Reason: The Trend Remains Bullish, Follow the Trend as the Main Strategy, and When Shorting, Precautions Must Be Taken, Safety First. The Content of This Article Is Real-Time and for Reference Only, Risk Is Self-Borne