The U.S. government shutdown sounds scary, but for the crypto world, it has more of a psychological impact. Right now, the market's focus is actually on the chips and key price levels that the God of Wealth is best at observing.
The current price is around 110000, which is a very crucial position. I, the God of Wealth, have noticed that the strong support level at the Fibonacci line 0.618 has been tested several times but has not been effectively broken. This indicates that the buying power below is very strong, as if there is a God of Wealth supporting it from below.
The market is now experiencing a pullback and is likely to challenge the resistance level of 111000 again. Additionally, the EMA15 short-term trend line is positioned at 110966, nearly coinciding with 111000.
These two positions overlap to form a strong resistance zone. As long as the main force does not break through this key level of 111000, the short-term downward trend will remain. Everyone can continue to hold, but risk control must be done well, after all, even the God of Wealth can misjudge sometimes.
Let's take another look at the daily candlestick chart.
Highest 110557, lowest 109350, the fluctuation is not particularly large.
The EMA trend indicator is still spreading downwards, indicating that the bearish momentum is continuing.
The MACD continues to expand at a low level, and the signs of a bottom divergence are very obvious. This is usually a positive signal, indicating that the decline is losing momentum and a rebound may come at any time.
If the DIF and DEA lines fall below the opening price of 109350, a death cross is likely to form. This is a signal that requires caution.
The daily K-line is being suppressed by the middle band of the Bollinger Bands at 110400, unable to rise. Moreover, the Bollinger Bands are contracting, indicating that both bulls and bears are gathering strength. It is highly probable that the market will continue to consolidate over the weekend, without significant fluctuations.
Finally, look at the four-hour K-line; there are greater mysteries hidden within.
The K-line is consolidating at the bottom of the trend indicator, and the EMA is also starting to contract, indicating that the short-term bullish and bearish forces are rebalancing.
The resistance point is still at 111000, which is the position of the golden ratio 0.618.
Although the MACD shows a divergence at the bottom and is moving upwards with increased volume, the K-line remains flat at 110,000. This is a divergence between volume and price, which requires caution as it may signal a lack of upward momentum.
The upper Bollinger Band is at 112000, and the middle band is at 109800.
The previous death cross of the KDJ indicator was forcefully reversed, indicating that the support below is indeed very strong.
Overall, the market is currently at the key pressure point that the God of Wealth values the most.
As long as the pressure level of 111000 is not broken, the downward trend has not yet ended. But once this threshold is breached, the upward potential will be wide open. Therefore, everyone must be well-prepared for both scenarios and prioritize safety precautions, so that they can steadily make profits alongside the God of Wealth.
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The U.S. government shutdown sounds scary, but for the crypto world, it has more of a psychological impact. Right now, the market's focus is actually on the chips and key price levels that the God of Wealth is best at observing.
The current price is around 110000, which is a very crucial position. I, the God of Wealth, have noticed that the strong support level at the Fibonacci line 0.618 has been tested several times but has not been effectively broken. This indicates that the buying power below is very strong, as if there is a God of Wealth supporting it from below.
The market is now experiencing a pullback and is likely to challenge the resistance level of 111000 again. Additionally, the EMA15 short-term trend line is positioned at 110966, nearly coinciding with 111000.
These two positions overlap to form a strong resistance zone. As long as the main force does not break through this key level of 111000, the short-term downward trend will remain. Everyone can continue to hold, but risk control must be done well, after all, even the God of Wealth can misjudge sometimes.
Let's take another look at the daily candlestick chart.
Highest 110557, lowest 109350, the fluctuation is not particularly large.
The EMA trend indicator is still spreading downwards, indicating that the bearish momentum is continuing.
The MACD continues to expand at a low level, and the signs of a bottom divergence are very obvious. This is usually a positive signal, indicating that the decline is losing momentum and a rebound may come at any time.
If the DIF and DEA lines fall below the opening price of 109350, a death cross is likely to form. This is a signal that requires caution.
The daily K-line is being suppressed by the middle band of the Bollinger Bands at 110400, unable to rise. Moreover, the Bollinger Bands are contracting, indicating that both bulls and bears are gathering strength. It is highly probable that the market will continue to consolidate over the weekend, without significant fluctuations.
Finally, look at the four-hour K-line; there are greater mysteries hidden within.
The K-line is consolidating at the bottom of the trend indicator, and the EMA is also starting to contract, indicating that the short-term bullish and bearish forces are rebalancing.
The resistance point is still at 111000, which is the position of the golden ratio 0.618.
Although the MACD shows a divergence at the bottom and is moving upwards with increased volume, the K-line remains flat at 110,000. This is a divergence between volume and price, which requires caution as it may signal a lack of upward momentum.
The upper Bollinger Band is at 112000, and the middle band is at 109800.
The previous death cross of the KDJ indicator was forcefully reversed, indicating that the support below is indeed very strong.
Overall, the market is currently at the key pressure point that the God of Wealth values the most.
As long as the pressure level of 111000 is not broken, the downward trend has not yet ended. But once this threshold is breached, the upward potential will be wide open. Therefore, everyone must be well-prepared for both scenarios and prioritize safety precautions, so that they can steadily make profits alongside the God of Wealth.