Looking at the recent hourly chart, there are some long falling entities, indicating that the selling power is strong.
In particular, there were several consecutive large negative lines from 22:00 on April 9 to 01:00 on April 10, indicating that there was obvious downward price pressure in the short term.
During the period from 08:00 to 09:00 on April 10, the K-line showed a small real body with a long lower shadow, which may suggest that the selling pressure has weakened and buyers have begun to intervene.
In the MACD indicator, both DIF and DEA are below the zero axis, and the MACD histogram is negative, indicating that the current market trend is bearish, but the latest MACD value (-14.0) has increased compared with the previous cycle (-16.2), suggesting that the bearish momentum may be weakening.
In the KDJ indicator, the J value (72.6) is higher than K (54.7) and D (45.8), and both the K and D lines are still below 50, reflecting that the market is oversold and there may be a short-term rebound.
The EMA indicator shows that EMA7 (3512.5) is lower than EMA30 (3561.8), and the short-term moving average is below the long-term moving average, indicating that the short-term trend is relatively weak.
During the price decline, such as from 21:00 to 22:00 on April 9, trading volume increased, indicating that the downward trend was supported by trading volume.
The gradually decreasing trading volume in recent hours may mean that the downward momentum has weakened and market participants are more cautious.
The 4-hour K-line shows that the price fluctuates greatly, and some K-lines with long upper and lower shadows appear. For example, at 06:00 on April 9, the highest price of 3735.31 in the period was far away from the opening price of 3689.17, indicating that buyers tried to push up the price but failed to maintain it.
From 16:00 on April 8 to 02:00 on April 10, the overall trend was to rise first and then fall. There was a small top reversal signal from 07:00 to 09:00 on April 9, which may be a short-term correction.
In the latest data, the DIF of the MACD indicator is at -24.72, the DEA is at -1.69, and the MACD value is -46.06, indicating that the market is in a strong bearish trend. Both DIF and DEA are below the zero axis and DIF is lower than DEA, which is usually regarded as a sell signal.
In the KDJ indicator, the K value is 25.60, the D value is 25.44, and the J value is 25.92. The three are close to and below 30, indicating that the market may be oversold and there is a potential rebound opportunity.
The EMA indicator shows that the 7-period EMA (3540.40) has fallen below the 30-period EMA (3592.07), further confirming the current downward trend.
When the price rises rapidly, the trading volume also increases. For example, from 20:00 to 22:00 on April 9, as the price rises, the trading volume increases significantly.
The trading volume has begun to decrease in recent hours. For example, from 01:00 to 02:00 on April 10, the trading volume decreased compared with the previous hours, which may mean that the activity of buyers and sellers in the downward trend has decreased.
From the daily level, although the price of the currency has experienced a sharp correction, this is a normal correction range, but the overall trend is still bullish. The greater the correction, the wider the upward space will be.
Based on the above indicators, the intraday operation is still mainly low-long, supplemented by high-short.
It is recommended to set the first buyer support level at 3475; the second test support level at 3400; the long stop loss point is 3375; the take profit is 3520-3535; if it breaks through 3550, it can continue to hold to the first resistance level of 3600 and then look at the market data to take profit or short order layout; there is a delay in article review, and the market is changing rapidly, please take profit and stop loss, and quit when you are ahead!
I, Li Hui, interpret the world economic news and analyze the major trends in the global cryptocurrency circle. During my further studies in the United States, I have conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL and other currencies. For those who do not know how to operate, please follow the official account: Zhang Lihui #大盘走势 #新币挖矿 #非农数据 $BTC $ETH $BNB
