Date: October 28, 2024
End of consolidation phase, trend market about to explode, pay attention to key support and resistance levels.
Technical Analysis
Daily Level: Yesterday's daily bullish candle engulfed the previous day's bearish candle, indicating strong bullish power. The price is supported near EMA15, which is trending upwards. CCI has formed a W bottom in the +100 range, indicating an impending bullish trend. Currently, the price is at 68000, with previous high resistance at 68800 and 69500, as well as a heavy resistance zone at 69000-71000. If a large bullish candle does not strongly break through the resistance above, watch for potential reversal signals. Support below is in the 65000-65500 range and near 62000.
4-Hour Level: The 4-hour Vegas channel is still trending upwards, with CCI fluctuating between +100 and -100. EMA15 support and resistance have switched roles, with short-term support at 67500 and strong support around 65500.