1h/chart BTC
As can be seen from the figure, BTC has had a strong rise recently, forming a short-term high near 63,800 USDT, and then there was a slight pullback.
Judging from the K-line pattern, the current correction is small and has not fallen below important support levels. The overall trend remains positive.
Moving average analysis
Short-term moving average (5-day moving average): The current price is running near the 5-day moving average (63317.4 USDT), and the short-term moving average still maintains an upward trend, providing support for the price.
Medium-term moving average (10-day moving average): The 10-day moving average (62397.4 USDT) also remains upward, indicating that the medium-term upward trend is solid.
Long-term moving average (30-day moving average): The 30-day moving average (60726.5 USDT) is moving upward, and the long-term upward trend remains unchanged.
Support and Resistance
Resistance level: The previous high of 63,800 USDT is the main resistance level in the near term. If this price level can be effectively broken, the price is expected to continue to rise.
Support level: The current important support levels are around 63,000 USDT and 62,000 USDT. If the price pulls back to these levels and gets support, it means that the upward trend is still valid.
Volume Analysis
The volume has increased significantly during the rise, indicating high market participation and increased investor interest in BTC. The current volume has decreased, indicating that the market is waiting for further direction confirmation.
Future Trends Prediction
In the short term
Shock adjustment: In the short term, the price may fluctuate between 63,000 USDT and 63,800 USDT. The market needs to digest the previous profit-taking in this area and find a new direction.
Upside potential: If the price can stabilize above 63,000 USDT and the trading volume increases again, it is expected to rise to 63,800 USDT again, or even higher.
Medium to long term
Trend remains: As long as the price remains above the 5-day and 10-day moving averages, the overall upward trend will not change. In the next few weeks, the price is expected to challenge the previous high of 63,800 USDT or even break through to a new high.
Operational Details
Buying strategy
Buy on dips: If the price pulls back to the 5-day moving average (63317.4 USDT) and gets support, you can consider buying on dips.
Breakout Buy: If the price breaks through 63,800 USDT and the trading volume is significantly enlarged, you can follow the trend and buy after the breakthrough.
Selling strategy
Short-term profit taking: If the price encounters resistance near 63,800 USDT, you can consider partial profit taking.
Stop loss strategy: If the price falls below 63,000 USDT, it is recommended to set a stop loss to prevent losses from further declines.
