Ultima MarketsBitcoin has a long way to go, with short-term adjustments and declines...

todayUltimaMarkets Bringing you 2024year 4month 4Bitcoin in JapanIn depth analysis.

Fundamental points

• U.S.A3monthADPreport：3monthADPEmployment recorded an increase18.4Ten thousand people, higher than expected14.810000 people.ADPAfter the release of employment data, the US dollar index rose in the short term5Points.
• Powell Dove SpeechYesterday, Federal Reserve Chairman Powell reiterated that recent employment growth and higher than expected inflation data will not substantially change the overall outlook for interest rate cuts.
  

technical analysis

Daily chart analysis

Daily chart of Bitcoin, sourceUltima Markets MT4）

• Random oscillation indexAfter the indicator issued a bearish signal in the overbought area yesterday, the express quickly fell below50The median line suggests a strong bearish force, with a short-term downward trend being the main trend.
• Lower support lineBitcoin prices fell below red yesterday33After the daily moving average and the lower edge of the oscillation range, the space below opens up. After a short-term adjustment, the market price will look towards the downward channel line and the proportional Fibonacci expansion line.
  

4Hour chart analysis

(Bitcoin)4Hour chart, sourceUltima Markets MT4）

• Random oscillation indexThe indicator sends a bullish signal in the oversold area, indicating that the short-term market price is facing a mean return during the Asian session after a rapid decline yesterday.
• Bounce target positionBitcoin prices are currently forming a downward channel line, with a rebound peak looking towards the dotted line200The cyclical moving average is also located along the upper edge of the downward channel.
  

Trading CentralHub Line Indicators

(Bitcoin)30Minute chart, sourceUltima Markets APP）

• according toUltima Markets APPInTradingCentralHub line indicators, central price range for the day65010，
• 65010Upward bullish, first goal67910Second objective68770
• 65010Under bearish, first target63570Second objective62710
  

Disclaimers

The comments, news, research, analysis, pricing, and other information contained in this article can only be considered as general market information and are provided solely to assist readers in understanding the market situation and do not constitute investment advice.UltimaMarketsReasonable measures have been taken to ensure the accuracy of the data, but the accuracy of the data cannot be guaranteed and can be changed at any time without notice.UltimaMarketsWe will not be responsible for any losses or losses (including but not limited to any loss of profits) that may arise from the direct or indirect use or reliance on such information.