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BTC: [Price Trend Analysis]
K-line pattern: In recent times, prices have shown a clear downward trend, with the K-line gradually decreasing. There is a short-term rebound around 85900, but it has not broken through the previous high of 88300, with significant selling pressure above.
Technical Indicators:
MACD: The current MACD is negative, indicating strong bearish forces, and the short-term moving average is running below the long-term moving average, relatively weak.
RSI: Currently, the RSI value is around 15, located in the oversold area, with a demand for correction, but caution is needed to prevent further decline.
EMA: The moving averages of EMA7 and EMA30 diverge downwards, confirming a downward trend, and the price has touched EMA7 as a pressure level.
Turnover
The trading volume has increased, especially with the recent rise of several candlesticks accompanied by an increase in trading volume, indicating that the market sentiment is biased towards short selling.
The overall trading volume is high, while the price continues to decline, which may indicate insufficient output, that is, selling cannot effectively drive the price to continue rising.
Buy point one: 85000 USDT (the current price is close to the recent support level and RSI is oversold, with the possibility of a rebound);
Buy point 2: 84500 USDT (if there is buying intervention after further decline, it can be bought at a low price with relatively low risk);
Long stop loss point: 84300 USDT (set below the buy point 2 to control losses near the previous low to reduce risk);
Selling point one: 87000 USDT (near the previous high point, forming a clear selling pressure area, suitable for short-term profit taking);
Sell point 2: 87500 USDT (continuing to rise to the resistance level of the previous stage, there will be greater pullback risk, and profits need to be locked in advance);
Short Stop Loss Point: 87700 USDT (set above Sell Point 2 to prevent market breakout from causing bad debts);
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Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.