BTC/USTD Analysis
From yesterday morning to noon, the price of BTC continued to rise to the range of $65,000, reaching a maximum of $65,550, but then it was suppressed by the resistance of $65,850 and fell to a low of $62,700, maintaining a high shock.
Yesterday, there was a net outflow of funds, estimated at about 1.008 billion US dollars, and the level moved slightly. The $6,7,733 area still played a supporting role, but the core support has moved down to the range of $61897.50 to $62410.60.
The support area can be regarded as the key support for the current shock of BTC. If it continues, the shock range will remain between $61897.50 and $65623.73, and gradually increase over time.
If the price breaks through and stabilizes above $65,623.73, the shock range will expand to $67,496.76. However, if the price falls below $61,897.50 and fails to rebound the next day, the shock will weaken and the range will move down to $58,632.75.
Other data show that the capital flow to the region is between $62,410 and $61,653, which can still provide multiple support levels. Daily data shows that about 85% of the indicators are bullish and 15% are bearish. The bearish ratio is 1.35.
Long-short positions gather as a whole, with a slight bullish advantage in the short term, but the two alternate frequently. The greed index is 68, and the turnover rate is 18%.
Today, BTC remains in this range. Breaking through or falling below the corresponding level will cause shocks in different directions and amplitudes. For short-term traders, the daily level is still suitable for one-time operation.
The long-term trend is still bullish, so the short-term decline is still regarded as an opportunity for long-term adjustment until the expectation of the Federal Reserve's interest rate cut subsides.
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