From the daily perspective, on October 11, Bitcoin experienced a significant drop, plunging over 13% within 24 hours, hitting a low of about $102,000. The daily chart formed a large bearish candle, indicating strong bearish momentum. As of October 12, 00:10, the Bitcoin price was $111,800, still in a downtrend, with the candlestick pattern showing a evening star, which is a bearish pattern, and the moving average system is in a bearish arrangement, indicating that market momentum is skewed towards the downside.

From the 4-hour candlestick perspective, as of October 12, 09:40, the recent 4-hour candlestick shows a significant price increase compared to October 11 at 08:00, but the last candlestick was a bearish candle, with the closing price lower than the opening price, presenting a bearish engulfing pattern. Trading volume has decreased, and market trading is inactive. The MACD histogram remains negative but is gradually shortening, indicating that bullish strength is increasing, but it is still under bearish dominance.

Currently optimistic about short positions! #加密市场观察 #加密市场回调 $BTC

BTCUSDT

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