1h/BTC
K-line pattern analysis
The BTC price has obviously pulled back after reaching a high of 63849.0 USDT, and is currently around 61314.9 USDT.
The chart shows that after a wave of increases, the price has experienced a significant correction, and the short-term trend is bearish.
Moving average analysis
Short-term moving average (5-day moving average): The current price has fallen below the 5-day moving average (60385.8 USDT), indicating that short-term market sentiment is bearish.
Medium-term moving average (10-day moving average): The price fell below the 10-day moving average (60742.2 USDT), and the medium-term trend weakened.
Long-term moving average (30-day moving average): The 30-day moving average (60956.0 USDT) was also broken, indicating that the long-term trend began to weaken.
Support and Resistance
Resistance level: The upper resistance level is at 62000 USDT and 63000 USDT. If this level cannot be effectively broken through, the upward pressure will be relatively large.
Support level: The current support levels are 61,000 USDT and 60,000 USDT. If it falls below this level, the price may continue to fall.
Volume Analysis
Trading volume has been enlarged during the rise, but has increased significantly during the pullback, indicating greater market selling pressure.
The current volume has increased as prices fall, indicating bearish market sentiment.
MACD indicator
The MACD fast and slow lines formed a death cross above the zero axis, indicating that the market may continue to adjust in the short term.
If the fast line forms a golden cross below the zero axis, it may be a rebound signal.
RSI indicator
The RSI indicator is currently close to 40, showing that market sentiment is bearish, but it is still some distance away from the oversold range, indicating that prices may continue to adjust in the short term.
Bollinger Bands Analysis
The price is running near the lower Bollinger Band. If the price cannot rebound effectively, it may continue to run along the lower Bollinger Band.
Future Trends Prediction
In the short term
Bearish shock: The price may fluctuate between 61000 USDT and 62000 USDT. If it fails to break through 62000 USDT, there is a high probability that it will continue to decline in the short term.
Downside potential: If it falls below 61,000 USDT, the price may fall further to 60,000 USDT.
Medium to long term
Rebound after adjustment: If the price is supported near 61,000 USDT or 60,000 USDT and the trading volume increases, there may be a rebound opportunity.
Trend conversion: If the price rebounds and breaks through 62,000 USDT and 63,000 USDT, the medium- to long-term trend will turn strong again.
Operational Strategy
Short selling strategy
Short on rallies: When the price rebounds to the 5-day moving average (60385.8 USDT) or the 10-day moving average (60742.2 USDT) and is blocked, you can consider shorting.
Breakthrough short selling: When the price falls below 61,000 USDT, you can follow the trend and short sell.
Buying strategy