From the daily chart perspective, Bitcoin experienced a significant fall on October 11, plunging over 13% within 24 hours, with a low reaching approximately $102,000. The daily chart formed a bearish belt hold, indicating strong short positions. As of October 12 at 00:10, the price of Bitcoin was $111,800, still in a downtrend, with the candlestick pattern showing a evening star, which is a bearish pattern, and the moving average system showing a bearish arrangement, indicating that market momentum is skewed downward.
From the 4-hour Candlestick chart, as of October 12 at 9:40, the most recent
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