The presented Bitcoin (BTC) chart displays a monthly chart using indicators such as Moving Averages (MA), Parabolic SAR, and Ichimoku Cloud.
Technical chart analysis
Uptrend triangle:
The chart shows the formation of an ascending triangle, where the price moves within a narrowing range. This indicates a possible strong price movement in the near future. Typically, such triangles signal the continuation of the trend after a breakout.
Moving averages (MA):
AND (7): 61348.83
MA (25): 36189.34
MA (99): 40237.79
Moving averages show that BTC is in a long-term uptrend. Short-term and medium-term MAs are above the long-term MA, which confirms the upward trend.
Ishimoku indicator:
The Ichimoku Cloud shows strong support around 40010.70, which also confirms the current uptrend. The price remains above the cloud, indicating a continuation of the bullish trend.
Parabolic SAR:
Parabolic SAR values are below the current price, indicating a bullish market. The parabolic SAR also serves as support and can signal possible stop loss levels.
Key levels
Support:
40237.79 (long-term support based on MA)
40010.70 (Ichimoku cloud support)
Resistance:
83828.79 (upper border of the ascending triangle)
Forecast
BTC remains in a strong uptrend, confirmed by multiple indicators. A break of the upper boundary of the ascending triangle (83828.79) could lead to a significant rise in prices, while the support level around 40000 could serve as a reliable level for long-term investors.
Conclusion
Bitcoin is showing a bullish trend on the monthly chart, supported by key technical indicators. Investors should watch for a breakout of 83828.79 to confirm trend continuation. At the same time, support levels around 40,000 provide protection from sharp price fluctuations.
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