Cryptocurrency Circle Liying: On September 30, Bitcoin stirs again, can the 64000 support level change the situation? Latest market analysis

Article published on 2024.9.30—14:35

Liying's real-time data provided a short position at 65800 yesterday, and I wonder how many crypto friends followed up. Thank you for your recognition. Ultimately, we took profits at the 64500 support level. Currently, the four-hour K-line is testing the 64000 support. The market trend shows that the four-hour K-line is in a high-level fluctuation, with multiple long upper and lower shadows, indicating significant market divergence. Recent K-lines show obvious signs of a pullback.

Technical indicators show that the MACD fast and slow lines on the four-hour cycle have crossed downwards, with green bars increasing, indicating further downward pressure in the short term. The daily MACD has also started to weaken, with red bars shortening. The RSI has fallen from the overbought zone and is currently at 41.4, indicating increased selling pressure. The daily RSI has also retreated from a high position to near the neutral zone, suggesting that both long and short positions have a chance to appear.

Looking at the trend indicators, the EMA7 and EMA30 moving averages on the four-hour cycle show a death cross, and the price has fallen below both EMA7 and EMA30, indicating a short-term trend reversal to bearish. On the daily level, the price is still above EMA7 but close to the support level. Since the 27th, trading volume has significantly increased, especially during periods of high price volatility, indicating increased market activity. However, today's trading volume reached 76388, accompanied by a sharp decline, indicating significant selling pressure. Liying believes this is a normal pullback and suggests going long.

Today's point prediction

Long position at 64000, add long at 63000, stop loss at 62500, target at 65500.

Short position at 66000, add short at 66500, stop loss at 67000, target at 65000.

Reason: Liying's strategy supports effective long positions, with proper stop losses in place. Wait for high positions to consider short positions; do not chase highs or panic sell. The content of this article is time-sensitive and for reference only; risks are borne by the reader.

The above is Liying's brief analysis of the current market situation for investors' reference. Over the past ten years, Liying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Liying has witnessed the brilliance of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons along the way. As a female trader striving in this challenging field, Liying feels a responsibility to share her insights, hoping to help others with dreams find their place in this unpredictable market and embark on their own successful journey.

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