$BTC $PEOPLE
Today's Bitcoin Market Overview
Market Performance and Price Dynamics:
Dragged by the US non-farm data in August, the market's concerns about economic recession deepened, and Bitcoin plummeted from around $57,000 to a new low of $52,550. But after 6 a.m. today, Bitcoin stabilized and rebounded at $54,400. As of press time, it has risen to $55,223, an increase of 1.46% in 24 hours. This round of rise triggered a wave of contract liquidations in the cryptocurrency market, with a total amount of more than $101 million, 70% of which were short orders, affecting more than 29,000 users.
Brief Analysis of Technical Indicators:
- Daily K-line: Bitcoin fluctuates in the range of $54,000-56,000, with long lower shadows appearing frequently, indicating active buying.
- 4-hour K-line: It is still in the rising channel in the short term, but faces the pressure zone of 55,500-56,000 US dollars.
- Bollinger Bands: Running close to the middle track, breaking through and standing on the middle track is expected to sprint to the upper track, and the expansion of the upper and lower tracks indicates increased volatility.
- MACD: DIF and DEA cross upward below the 0 axis, the green column shortens, and the short-selling force weakens, which may indicate that the market reversal is imminent.
Operation strategy suggestions:
In the short term, you can pay attention to the opportunity of Bitcoin's pullback to the support level of 53,500 US dollars, arrange long orders at the right time, and aim to look above 56,000 US dollars. Medium- and long-term Bitcoin strategy simplified version
Pay attention to whether Bitcoin can break through and stabilize above 56,000 US dollars. If it breaks through successfully, it can continue to rise to a higher price. If it fails to break through and is accompanied by a large decline, it is necessary to stop loss in time to control risks.
Wealth Tips: PEOPLE Coin Dynamics
Today is the second presidential debate day before the US election. As a popular election concept, MEME coin performed strongly last night. We often recommend this coin, and those who follow it will gain more benefits. The current daily line shows multiple bottom patterns, indicating strong buying at this price. MACD is close to the 0 axis golden cross, and KDJ has already crossed, both indicating that the bottom is stable and suitable for short-term operations. It is recommended to retain the profit part and hold the currency in the medium term for growth.
Operation Guide
- Buying range: 0.052-0.058
- Target profit: 0.075-0.079
- Stop loss setting: 0.05
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