Bitcoin Analysis October 1
Bitcoin had a dramatic performance with strong fluctuations yesterday, it was really a full of ups and downs. In the morning, it started with a weak state, opening a bearish channel, like a strong storm hitting the market, the price continued to fall until midnight, hitting a low of around 63000, with an intraday drop of up to 2500 points. However, throughout the night, Bitcoin did not cause much volatility, the price mainly fluctuated between 63000 and 63800.
In the four-hour time frame, the Bollinger Bands are tending to expand, although the K-line broke the lower band after a series of bearish candles, but there was no strong fluctuation, but still maintained close to the lower band. This shows that the price has received strong support around 63000, it is difficult to fall further. In the short term, we should pay attention to the support situation in the range of 62500 to 63000, as long as the price does not effectively fall below this level, the main strategy may be to buy on correction.
