Analysis: Bitcoin is consolidating at a high level, short-term technical indicators turn to long

At 8:00 on October 11th, Beijing time, the ChaiNext 100 index, which reflects the overall trend of the cryptocurrency market, reported 765.24 points, down 1.03% in the past 24 hours, and the turnover was 37.646 billion US dollars. The turnover decreased by 9.20% compared with the previous 24 hours. Among the 18 rises and 82 declines; the ChaiNext 5 index, which reflects the performance of the blue-chip cryptocurrency, reported 679.32 points, which fell 0.89% in the past 24 hours, with a turnover of 31.195 billion US dollars. The turnover decreased by 10.24% compared with the previous 24 hours; the Bitcoin Bubble Index ( The BBI index was reported at 82.04 points, up 0.11% in the past 24 hours; the USDT OTC Index was 99.79 points, up 0.25% in the past 24 hours.
Bitcoin was at a high level yesterday, and there was no obvious correction in the day. The short-term technical indicators turned to long, but it is currently blocked by the strong pressure of the 200-day moving average. The correction rate of other mainstream currencies is mostly larger than that of Bitcoin. The short-term technical indicators show a downward trend, and there may be a wave of corrections against the bitcoin exchange rate.