Currency Academician: 2024.3.20 Bitcoin (BTC) Market Analysis Reference
Bitcoin opened lower in the morning and moved higher. The opening price was around 61,900. As of press time, the market was still stretched to around 62,800. A rebound trend can be seen for a while, but the momentum is obviously insufficient. The trend indicator EMA30 is under strong pressure. Time is expected to consolidate around 30, with the technical indicator MACD shrinking to around -2847. The downward diffusion of DIF and DEA accelerated, the downward diffusion of KDJ began to decelerate, the Bollinger Bands closed, the pressure support of long and short began to become smaller, the lower support moved up from yesterday's 60,000 mark to around 60,200, and the upper pressure level focused on 67,000
The four-hour short-term trend can see that the downward trend of the current market has slowed down. The K-line has begun to pull back upward. The upper resistance level focuses on the 65,000 integer mark. The EMA trend indicator is still in the downward diffusion stage. The MACD shrinkage has begun to decrease. DIF and DEA is blocked at 61500 on the downside, and KDJ is blocked on the upside at 65000. In addition, the K line is currently at the support point of the Bollinger Band lower track at 62150. There is a good space for a wave of short-term longs. Remember to place your pocket.
In terms of ideas, it is recommended to go short on highs and long on lows. For shorts, focus on the first pressure level above 64500, the second pressure level 65000, and stop loss 65500. For longs, focus on the first support point 61500, the second support point 61000, and stop loss 60500. Specific operation suggestions are based on real-time market data. There is a delay in publishing and review of articles. Suggestions are for reference only. Please bear your own risk.
This article is exclusively contributed by academicians of the currency circle and represents only the exclusive views of academicians.
