Technical Analysis Wednesday, October 2, 2024
BTC
The 9.53% drop from the high point is a normal fluctuation, and it is supported by the 30-day moving average, and the trend has not changed.
1. Daily line: It fell below the average cost of short-term holders of about 62,800 and the Bollinger middle track (62,562), and fell to the 30-day moving average (60,396) for support. MACD formed a dead cross above the zero axis, and RSI continued to fall below 50. The trading volume continued to fall for three consecutive days, and the correction has not ended.
2. The S&P and Nasdaq of the US stock market fell out of the bald big negative line, while the Dow consolidated, which is usually a manifestation of market risk aversion. On the one hand, the non-agricultural data on Friday will be released soon, and on the other hand, the sudden escalation of the US port strike and the Middle East war may increase the uncertainty of the US election, thereby bringing risks to the risk market. The trend of rock sugar orange has not changed. The industry currently has no narrative. In the short term, it will be affected by the macro environment and US economic data, and follow the US stock market into a correction.
[Prediction] Weak consolidation, waiting for the big fluctuations that may be brought about by Friday's non-agricultural data. Consolidation range: 62800~60000