Date: October 23, 2024
The market has not yet stopped falling, with a focus on the support below. Technical analysis at the daily level: yesterday, the daily line formed a doji near the previous high of 66700, indicating a rebound, but no signal of a stop in the decline has formed. Currently, the MACD indicator has formed a death cross, and the CCI is gradually entering the oscillation range from +100 to -100. The 66700 support may be broken in the short term, with a focus on the rebound from the 64500-65000 platform. At the 4-hour level: the 4-hour CCI has returned to the oscillation range of +100 to -100, the Vegas channel is gradually flattening, and the bullish trend on the 4-hour chart is gradually being digested. The 64500-65000 platform serves as a Fibonacci support level and a support level for the Vegas channel. If the price reaches this area, a strong rebound may occur.