While the current price of Bitcoin #BTC is 69,730 USD (May 22, 2024), short, medium term technical analysis.

Short Term Analysis (1 Day - 1 Month)

Support and Resistance Levels:

• Support: USD 68,000 (an important short-term support level)

• Resistance: USD 71,500 (Fibonacci 23.6% retracement level)

Indicators:

• RSI (14): 65, approaching the overbought zone, could be a potential pullback signal.

• MACD: In the positive zone, the MACD line is above the signal line, supporting the short-term uptrend.

• Bollinger Bands: Price is moving close to the upper band, which could signal a possible pullback or short-term correction.

• Fibonacci Retracement: Levels measured from the last high ($71,500) to the last low ($66,000):

• 23.6%: 68,500 USD

• 38.2%: 69,500 USD

• 50%: 70,750 USD

• 61.8%: 71,500 USD

Medium Term Analysis (1 Month - 6 Months)

Support and Resistance Levels:

• Support: 65,000 USD (Fibonacci 38.2% retracement level)

• Resistance: USD 75,000 (previous highs and psychological resistance)

Indicators:

• RSI (14): 58, neutral to slightly bullish in the medium term.

• MACD: In a slight uptrend, the MACD line is just above the signal line.

• Fibonacci Retracement: Significant levels between annual lows (45,000 USD) and highs (75,000 USD):

• 23.6%: 66,300 USD

• 38.2%: 65,000 USD

• 50%: 60,000 USD

• 61.8%: 55,000 USD

This analysis is not investment advice and it is important to do your own research before investing. Additionally, since market conditions and news flows are constantly changing, it will be useful to conduct regular analysis with up-to-date data.