Technical analysis of Bitcoin (BTC) future trend
(MA) Online observation:
MA5, MA10, MA30: The short-term moving averages (MA5, MA10) are both trending downward, and the price is below these moving averages, indicating that there is still a lot of selling pressure in the market in the short term. The medium-term moving average (MA30) is also trending downward, further confirming the weakness of the market.
MA60 and MA120: The long-term moving averages (MA60 and MA120) also show a downward trend, especially MA60 has bent downward, and the long-term support has weakened.
（Bollinger Bands）：
The expansion of the upper and lower tracks of the Bollinger Bands and the price approaching the lower track indicate that market volatility has increased. The price falling below the lower track of the Bollinger Bands indicates that the market may be oversold and there is a possibility of a rebound in the short term.
Relative Strength Index
The RSI indicator shows that the current value is 33.20, which is close to the oversold area. This shows that the market is oversold and may see a technical rebound.
MACD
The MACD line and the signal line are running below the zero axis, and the MACD line crosses downward through the signal line to form a death cross, indicating that the downward trend may continue.
KDJ indicator:
The KDJ indicator shows that the K line and D line are hovering at low levels, and the J line shows signs of rebound, but the overall trend still needs to be observed.
Cloud Atlas:
The price is below the cloud, showing a clear downtrend. Both the Tenkan-sen and Kijun-sen lines are moving downwards, and the market sentiment is bearish.
Fibonacci Retracement Levels:
Important support level: The current price is close to the 61.8% retracement level ($59,500.5). If it falls below this level, it may further fall to the 78.6% retracement level ($55,591.2).
Important resistance level: The upper resistance is at the 50% retracement level (US$62,246.4). If the price rebounds to this level, we need to pay close attention to whether it can break through.
Volume:
The trading volume increased significantly during the decline, indicating that the market was under selling pressure and investor sentiment was biased towards panic.
The data analysis of multiple indicators is as follows:
Through the analysis of multiple technical indicators, it is found that Bitcoin is currently showing a clear downward trend. Indicators such as moving averages, Bollinger Bands, RSI, MACD, KDJ, cloud charts and Fibonacci retracement lines all show that there is a large selling pressure in the market, and there is a large downward pressure in the short term. However, some indicators such as Bollinger Bands and RSI show that the market may be oversold, and there is a possibility of a technical rebound in the short term.
Key support and resistance levels:
Support level: The important support levels are the 61.8% retracement level of $59,500.5 and the 78.6% retracement level of $55,591.2. If the price continues to decline, we need to pay attention to the support effect of these positions.
Resistance level: The upper resistance level is at the 50% retracement level of $62,246.4 and the 38.2% retracement level of $64,992.3. If the price rebounds to these positions, we need to pay attention to whether it can be effectively broken through.
Market Sentiment:
The significant increase in trading volume indicates that market sentiment is relatively panicked and investors need to be more cautious in their operations.
3. Investment advice
Short-term investors:
When the price approaches the support level, you can consider buying a small amount and setting a strict stop loss in case the price continues to fall.
If the price rebounds and breaks through the resistance level of $62,246.4, you can consider adding an appropriate amount of positions, with the target price set around $64,992.3.
Medium and long-term investors:
Adopt a phased position building strategy, gradually buy when the price pulls back to around US$59,500.5 or US$55,591.2, and pay close attention to market trends.
Control your position and avoid buying large amounts at one time
Have you ever been confused by market fluctuations? Worried that you can't accurately judge market trends? Don't know how to read the market or understand contract trading? Come to the community to find Jiaoshou! We will not only teach you how to understand market conditions, but also deeply analyze the underlying logic of blockchain and the potential of each track.
The community provides you with: basic knowledge of blockchain/market analysis/contract trading strategies/mid- and long-term spot layout, etc.
#BTC☀ #BTC走势分析 #NOTCOİN #AXL #BB $BTC $XAI $BAKE
