$BTC
K-line pattern:
Recent K-line shows large price fluctuations, especially from 21:00 on May 23 to 04:00 on May 24, there was a clear downward trend. The long lower shadow of the K-line at 04:00 on May 24 indicated that there was some buying in the market at that time, but the price remained at a relatively low level afterwards. The K-line at 07:00 on May 24 was a short entity, and the opening and closing prices were close, suggesting that the current market is not decisive and may be in a state of hesitation or balance.
Technical indicators:
In the MACD indicator, DIF and DEA are both in the negative area, and the MACD histogram is also negative, indicating that the current market is in a bearish trend. Although the latest MACD value (-94.9) has increased compared to the previous few hours, it has not turned positive overall, and we need to be alert to potential downside risks.
In the KDJ indicator, the K and D values are both below 50, and the J value is higher than the K and D values, which usually indicates that the market may be oversold and there may be a rebound in the short term, but further observation is needed to confirm whether the trend has really changed.
The EMA indicator shows that the 7-period EMA (67864.6) is lower than the 30-period EMA (68700.1), which is usually regarded as the short-term trend is weaker than the long-term trend, supporting the bearish view.
Short-term operation: long on dips, short on rallies
Long around 67000:
First target: 68600
Second target 69100
