Cryptocurrency Circle Liying: Bitcoin's Storm Reignites on October 11! Today's Peak Surprisingly Soars to 60800 - Fear or Joy? Latest Market Analysis

Article Published on 2024.10.11 — 14:00

The awaited market has arrived, with a rapid rise and fall. Yesterday, Liying provided two target points, both reaching over 60000, with 59500 for long positions. Today's peak reached 60800, with limited space of just over a thousand. From the overall trend, profit margins have been compressed, and market fluctuations have temporarily halted. Let's see how the market moves today based on Liying's upcoming analysis.

Currently, the K-line pattern in the market shows a clear downward trend, especially after significant declines yesterday and the day before, leading to a bearish market sentiment. In the 4-hour cycle, prices fluctuate within the range of 60000 to 61000, repeatedly testing support around 60500. The technical indicator MACD is currently below the zero axis, with both DIF and DEA in negative territory, and the MACD histogram showing green, indicating that there is still some downward momentum in the short term, but signs of weakening suggest that the market is showing signs of consolidation at the bottom.

Currently, the RSI in the market hovers around 40, indicating a potential rebound. Looking at the trend indicators, EMA7, 30, and 120 are all diverging downwards. The short-term moving average EMA7 has repeatedly acted as resistance, suppressing price increases. Attention should be paid to the breakout of EMA7 before making decisions. In the 4-hour cycle, trading volume is gradually decreasing, and market sentiment is cautious, waiting for new directional guidance. The conventional approach is to short at highs and long at lows.

Today's Point Forecast: Liying's Judgment (Consolidation)

Long Entry at 60000, add long at 59300, stop loss at 58900, target at 61000.

Short Entry at 61500, add short at 62000, stop loss at 62500, target at 60500.

Reason: Focus on key resistance and support levels; operate in the direction of the trend after they break, do not counter-trade. 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 assist others with dreams in finding their place in this unpredictable market and embarking on their own successful journey.

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