Li Ying in the Crypto Circle: Bitcoin Fluctuates at 10.3, Uncertainty Surrounds Price Movements, Latest Market Analysis

Article Published on 2024.10.3—14:00

Every day brings new trends and new market conditions, and the future is certainly bright. This is Li Ying's belief, and I hope it is yours too. Let's take a look at the market. Currently, the four-hour price trend candlestick pattern shows a significant pullback at a high level, forming multiple long upper shadow candlesticks, indicating heavy selling pressure above. Therefore, further selling pressure cannot be ruled out. After a sharp decline between the 1st and 2nd, there are signs of stabilization, but overall it remains in a state of fluctuating adjustment.

The technical indicator MACD currently shows a negative value for the MACD histogram, which is gradually shortening. The DIF line and DEA line are close to the zero axis, indicating that bearish strength is weakening, and it may enter a phase of fluctuation or rebound. The RSI indicator has rebounded from the oversold area to around 40. Although market sentiment has eased, it has not yet entered a strong zone. The trend indicator shows that the price is currently running below EMA7 and is approaching EMA30. If it can break through EMA7 and stabilize, a further rebound may occur; otherwise, it will continue to be under pressure.

Having discussed so much valuable information, you should have some judgment. Li Ying's approach is simple: once the upper pressure level is clearly effective, short positions can be initiated. After further probing below the bottom support, long positions can be entered near previous lows. There is space on both sides to seize opportunities, and this flexible model is the most suitable for everyone. In recent cycles, trading volume has significantly increased, with both bulls and bears being fierce. It is advisable to pay attention to real-time market data before making decisions.

Today's Point Prediction: Li Ying's Judgment (Consolidation)

Long entry at 60500, add long at 59500, stop loss at 59000, target at 61500.

Short entry at 62000, add short at 62500, stop loss at 63000, target at 60800.

Reason: Low support points are consolidating sideways, and the fluctuation space is not large, allowing for swing trading. The content of this article is time-sensitive and for reference only; risks are borne by the reader.

The above is a brief analysis by Li Ying regarding the current market conditions for investors' reference. Over the past ten years, Li Ying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Li Ying 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, Li Ying feels a responsibility to share her insights and hopes to help others with dreams find their place in this ever-changing market and embark on their own successful journey.

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