BTC Market Analysis
Daily chart analysis
As can be seen from the daily chart, the BTC price has experienced a period of high volatility recently, and the current price is $61,664.07.
1. Price Trend After the BTC price rose strongly to a high of $73,777.70 in early 2024, it began to pull back. The current price is in a range of $60,000 to $65,000.
2. Technical indicators
Bollinger Band: The upper track of the Bollinger Band is $72143.00, the middle track is $64355.57, and the lower track is $56568.14. The current price is between the middle track and the lower track, indicating that the price may continue to pull back.
Moving Average (MA): 5-day MA is at $61664.07, 10-day MA is at $61564.07, and 30-day MA is at $60838.42. The short-term moving averages are trending downward, indicating that prices may continue to weaken in the short term.
Trading volume: Trading volume showed signs of expansion, indicating that the market was under great selling pressure.
3. Real-time data As of June 27, 2024, the BTC price is $61,664.07, the 5-day moving average is $61,664.07, the 10-day moving average is $61,564.07, and the 30-day moving average is $60,838.42.
4. Summary The daily chart shows that the overall trend of BTC is still bearish. If the price falls below the support level of $60,000, it may further drop to around $56,568.14. If it can stabilize above $61,500, it is expected to rebound to $64,355.57.
4-hour chart analysis
On the 4-hour chart, BTC price shows some signs of rebound, but the overall trend remains bearish.
1. Price trend BTC shows signs of high-level shocks on the 4-hour chart, and the price is adjusted in the short term.
2. Technical indicators
Bollinger Band: The upper track of the Bollinger Band is $65433.99, the middle track is $62017.32, and the lower track is $58600.65. The price is currently between the middle track and the lower track, and may fluctuate in the short term.
MACD indicator: MACD line and signal line are running below the zero axis. The momentum column shows a certain short momentum, but there are signs of weakening, suggesting that a rebound may occur in the short term.
RSI: The RSI is around 40, indicating some demand for a rebound.
3. Real-time data As of June 27, 2024, the BTC price is $61,664.07, the middle track of the Bollinger band is $62,017.32, the upper track is $65,433.99, and the lower track is $58,600.65.
4. Summary The 4-hour chart shows that BTC may fluctuate between $61,000 and $65,000 in the short term. If it can effectively break through the $65,000 resistance, it is expected to continue to rise. If it falls below the $61,000 support, it may fall back to around $58,600.
1 hour chart analysis
On the 1-hour chart, the BTC price is running between the middle and lower tracks of the Bollinger Band, showing certain signs of rebound in the short term.
1. Price Trend BTC shows signs of a short-term rebound on the 1-hour chart, but the overall trend remains strong.
2. Technical indicators
Bollinger Band: The upper track of the Bollinger Band is $62,500.00, the middle track is $61,000.00, and the lower track is $59,500.00. The price is running between the middle track and the lower track, and it may continue to rebound in the short term.
MACD indicator: MACD line and signal line are running below the zero axis, and the momentum column shows a certain bullish momentum, suggesting that the rebound may continue in the short term.
RSI: The RSI is around 35, indicating some demand for a rebound.
3. Real-time data As of June 27, 2024, the BTC price is $61,664.07, the middle track of the Bollinger band is $61,000.00, the upper track is $62,500.00, and the lower track is $59,500.00.
4. Summary The 1-hour chart shows that BTC may have a small rebound in the short term. If it can break through the resistance of $62,500, it may rise further to around $63,000. If it falls below the support of $61,000, it may continue to pull back to test the support level of $59,500.
Subsequent trend forecast
Based on the analysis of the daily, 4-hour and 1-hour candlestick charts, BTC is currently in a bearish trend and may fluctuate between $60,000 and $65,000 in the short term. If it can effectively break through the $65,000 resistance level, it may continue to test the previous high of $70,000. If it pulls back to around $60,000 and stabilizes, there is still room for upward movement. Investors should pay close attention to key support and resistance levels when operating, and set stop losses and target levels reasonably.
Trading Advice
Short-term strategy: If the price breaks through $62,500, it is recommended to go long in the short term, with the target at $63,000 and the stop loss at $61,000.
Medium-term strategy: If the price pulls back to around $60,000, consider buying on dips, with the target at $65,000 and the stop loss at $59,500.
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