Crypto Master Community: Bitcoin October 5th [Market Analysis]

[Price Trend Analysis]

1. K-Line Pattern:

• The daily level shows that the recent price has been continuously rising, forming multiple bullish candles, especially the consecutive surge from October 2nd to October 5th, indicating a strong upward trend.

• In the 4-hour cycle, the price broke through the previous high on October 3rd and continued to rise, currently in a consolidation phase, but the overall upward structure is maintained.

2. Technical Indicators:

   • MACD:
     In the 4-hour cycle, both DIF and DEA are above the zero line, and DIF is gradually expanding upwards, indicating that the market is in a bullish trend. A slight pullback signal appears in the short term (the histogram shortens), but the main trend remains unchanged.
     The daily level MACD red bars continue to expand, showing strong bullish momentum.

   • RSI:
     RSI in the 4-hour cycle is close to 80, entering the overbought zone, indicating a potential technical pullback demand in the short term. However, if it continues to stay in the overbought area, it suggests that the trend will continue.
     The daily level RSI is also at a high level, reflecting an optimistic market sentiment.

   • EMA:
     EMA7, EMA30, and EMA120 in the 4-hour cycle show a bullish arrangement, with prices consistently running above EMA7, indicating strong short-term support.
     The daily level EMA also shows a bullish arrangement, with the distance between EMA7 and EMA30 widening, further confirming the upward trend.

3. Trading Volume:

• The daily trading volume significantly increased on October 2nd and October 3rd, synchronizing with the price surge, indicating active participation of funds in driving the market.

• In the 4-hour cycle, trading volume noticeably increased during the peak on October 3rd, while it has shrunk in the recent cycles, suggesting a potential adjustment phase in the short term.

• Wishing you successful trading!

  [The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow the real-time strategies of Crypto Master.]

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