Analysis on the afternoon of October 16

On the 4-hour chart, the recent candlesticks have shown narrow fluctuations at a high level, overall remaining within a short-term consolidation range, without breaking through the previous high or low. The MACD's 4-hour level DIF and DEA are still below the zero line, but are gradually converging. The green bars are shortening, indicating that the bullish momentum is weakening. The EMA7 and EMA30 on the 4-hour level are far apart, with the price running below the EMA7, indicating significant short-term pressure. The daily chart continues to maintain a downward trend, and it is recommended to go long at high levels during the day.

The large pancake is near 111200-111400, targeting around 109500.
Around 4020-4040 near the concubine, target around 3880 #币圈 #加密货币