BTC is currently near the critical support level of $68,000. Proceed with caution! Manage your positions! Until the market shows a clear direction, it is recommended to focus on short-term operations and wait for further signals from the market before making medium to long-term investments.

BTC is showing a strong oscillating trend in the $68,000 to $70,000 range. The short-term moving averages (MA50 and MA200) are intertwined, and the wide fluctuations in the Bollinger Bands indicate increased market volatility. The RSI indicator is around 60, showing that market sentiment is neutral to strong.

Support and resistance analysis:

  1. Short-term support level: Near $68,000, BTC has repeatedly gained buying support in this area, forming a key short-term support level.

  2. Key resistance level: Above $70,000, especially in the $72,000 area, previous rebounds have failed to break through here, making it a strong resistance level in the short term.

Market sentiment and trading volume:
From the analysis of capital inflow and outflow, although BTC is currently oscillating at a high level, there is relatively more capital outflow, indicating that market sentiment is somewhat cautious. However, the proportion of leveraged funds remains high, indicating fierce competition between bulls and bears. The 24-hour net inflow data shows negative values, requiring caution against further downward risks in the market.

Trading strategy suggestions:

  1. Short-term traders: You can consider lightly entering long positions near $68,000, with a target set above $70,000. If it breaks below the critical support of $67,000, timely stop-loss is advised to avoid deep pullback risks.

  2. Medium to long-term investors: You can wait for BTC to confirm a breakout above the resistance at $70,000 before entering the market. At that point, it is expected to form a further upward trend, with target prices set in the range of $72,000 to $75,000.

  3. Risk control: Current market volatility has increased, and emotions are easily influenced by news and policy updates. It is recommended to set relatively tight take-profit and stop-loss levels to avoid emotional trading, and to refrain from chasing prices.