Crypto Master Community: Bitcoin October 23 Market Analysis
Price Trend Analysis
- K-Line Pattern:
The daily level shows that the recent price has been fluctuating in the range of 108,000 to 113,000. On October 21, a long upper shadow appeared, indicating strong selling pressure at high levels.
At the 4-hour level, the price quickly fell from 111,720 to around 108,391, forming a series of bearish candles followed by a slight rebound, currently in a low-level consolidation phase.
Technical Indicators:
MACD: The 4-hour MACD histogram remains negative, with the fast and slow lines close to the zero axis but not crossing, indicating a short-term bearish trend.
RSI: The 4-hour RSI value is 47, in the neutral zone, with no obvious overbought or oversold signals.
EMA: The price is currently below the EMA7, and EMA7 < EMA30 < EMA120, with moving averages in a bearish arrangement, indicating a downward trend.
Trading Volume:
The daily trading volume is gradually shrinking, decreasing from 139,647 on October 20 to 141,733 on October 22, indicating reduced market activity.
The 4-hour trading volume fluctuates significantly but shows an overall decreasing trend, with lower willingness for capital participation.
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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