Crypto Master Community: Bitcoin October 22nd [Market Analysis]

[Price Trend Analysis]

1. K-Line Pattern:

• The daily level shows that the recent price has retreated after oscillating at a high level, with a long upper shadow formed on October 21st, indicating heavy selling pressure above.

• In the 4-hour period, the price quickly dropped from a high of 114,000 to around 107,927, showing a low-level consolidation pattern after a sharp decline.

1. Technical Indicators:

   • MACD: The 4-hour MACD is below the zero line, with the fast and slow lines crossing downwards and the green bars continuing to expand, indicating a dominant bearish force; the daily MACD is also below the zero line, with weakening momentum.

   • RSI: The 4-hour RSI value is 44.56, close to the oversold zone but not yet entered, indicating potential for a short-term rebound; the daily RSI is 45.88, overall weak.

   • EMA: The 4-hour EMA7 and EMA30 are diverging downwards, with EMA120 moving away from the current price, indicating a clear bearish trend; the daily EMA7 and EMA30 are turning downwards, while EMA120 remains in a bullish arrangement, but the price has fallen below the EMA7 support.

2. Trading Volume:

• The 4-hour trading volume significantly increased during the sharp decline, then gradually shrank, indicating cautious market sentiment.

• The daily trading volume increased during the spike on October 20th, with a large amount of selling accompanying the sharp drop on October 21st, and the latest K-line trading volume has decreased.

• 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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