Cryptocurrency Circle Li Ying: Non-Farm Payrolls on October 4th! Can Bitcoin Break Free from the 60,000 Constraint? Latest Market Analysis

Article published on 2024.10.4 ---- 12:45 PM

Li Ying predicts that the market will continue to consolidate, and there is expected to be no significant fluctuations until the Non-Farm Payrolls announcement in the evening. Attention should be paid to the upcoming analytical thoughts from Li Ying. Firstly, the price trend analysis shows that the current candlestick pattern is fluctuating within the range of 60,000 to 62,000, presenting a pattern of oscillation and consolidation.

After a significant decline from the 1st to the 3rd, there are currently signs of stabilization. Technical indicators MACD: The current DIF and DEA are both negative, but the MACD histogram shows a shortening trend, indicating that bearish strength is weakening, and a rebound may be on the horizon. The current RSI value is about 42, indicating some room for a rebound.

The trend indicator EMA shows that the price is above EMA7 but still below EMA30 and EMA120, indicating a short-term need for a rebound, but overall it remains in a bearish trend. The trading volume has decreased in recent periods, especially compared to the previous significant decline, leading to a cautious market sentiment. At 08:00 on the 4th, there was a volume increase, showing that the bulls attempted to exert pressure but began to retreat due to strong resistance. Therefore, the overall trend should focus on the key support level of 59,700.

Today's reference points: Sideways

Long at 60,000, stop loss at 59,500, target at 61,500

Short at 62,000, stop loss at 62,500, target at 60,500

Reason: Trade within the range while ensuring risk control and safety first. The content of the article is time-sensitive and for reference only; risks are borne by the reader.

The above analysis by Li Ying is based on market data and trend analysis and is for reference only, not constituting investment advice. For family members' 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 assist others with dreams in finding their place in this ever-changing market and embarking on their own successful journey.

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