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3.10 Good morning
Bitcoin (BTC) market analysis reference
Bitcoin's market continued to fluctuate weakly yesterday, the price fluctuated little during the day, and it was a pullback as scheduled in the evening, and it continued to fall this morning, breaking heavy support, and the low level touched the position near 79900 to get out of the rebound, and the price is currently running at 80600. So far, it has fallen by more than 5,000 points in the day and rebounded by several hundred points.
On the daily chart, yesterday's price ended in a big yin, the 4-day K-line is the end of a negative column, the daily MACD histogram continues to be negative and enlarged, the fast and slow lines are located below the zero line, and the daily level RSI is 34.45, close to the oversold area. The daily price has fallen below EMA7 and EMA30, and the bearish momentum is relatively strong, and there is still room for downside in the short term
On the short-term hourly chart, the Bollinger bands are open downward, the price runs near the position outside the lower line, the short-term price rebound has been blocked many times, the market repair is under pressure at the 84000 line, and has come out of thousands of points of callback, the short-term bullish sentiment is weak, the price retracement below the support strength of the possibility, all operations are not recommended to blindly chase up. The attached figure shows that the AMCD and Stoch lines are both downward, which shows that the short-term operation is still dominated by callbacks. The low position is mostly supplemented
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