Market Analysis Thursday, October 3, 2024

Reduce operations, whether to stop the decline and stabilize or to continue the decline, wait for the non-agricultural data on Friday.

【BTC】

1. Daily line: The cumulative decline in this round is 9.77%, which is still within the normal fluctuation range. The 30-day moving average remains upward, and it is supported at the 60-day moving average (60081), and the 60-day moving average is flat, and it has not fallen below the 60-day moving average. The rising structure has not been destroyed, and there is still a possibility of setting a new high. MACD forms a dead cross above the zero axis, and the bar line remains divergent, which requires a certain amount of time to repair. RSI began to turn upward below 50. After three consecutive days of continuous large-scale declines, the trading volume shrank yesterday and formed a near cross with a slightly longer upper shadow line, showing signs of stopping the decline and stabilizing.

2. 1 hour: MACD, RSI and other indicators have bottom divergence, but are still running below the downward trend line. The moving average has not yet formed a long arrangement, and it needs to consolidate for a certain period of time. Is it a staged bottom consolidation or a downward relay? In the short term, we need to wait for the next guidance given by the non-agricultural data.

[Prediction] Continue weak consolidation, waiting for the big fluctuations that may be brought about by the non-agricultural data on Friday. Consolidation range: 62000~60000

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