Technical Analysis Monday, September 23, 2024
BTC
1. Daily: It closed above the 120-day moving average (62343) for five consecutive days, and consolidated between the 120-day moving average and the 200-day moving average (63925). During the consolidation period, the volume did not shrink significantly, and the probability of continued rise is relatively high.
2. 4-hour level: An upward channel is formed. If it enters a high-level consolidation as expected, MACD may form a golden cross on the water again and start a five-wave challenge to the key pressure level around 65,000. If it can break through, the next pressure will be at 69,000~70,000.
3. Affected by the US stock market, after last week's interest rate meeting, the Fed officials will speak intensively this week, and the first important inflation data PCE released after the interest rate meeting on Friday will have a greater impact on the subsequent trend. Whether the big cake can break through the 65,000 area and go higher still depends on the trend of the US stock market.
[Intraday prediction] Bullish, the US stock index futures rose in the morning, with large fluctuations, and the big cake basically followed the US stock market. Whether it can continue to rise needs to wait for the US stock market to open in the evening.
