[BTC stands firm at 60,000 and will start a counterattack]🔥

Token name: $BTC

Current price: $59,900

📊 Market sentiment analysis

Positive sentiment is prevalent in the news, with multiple articles highlighting bullish indicators and predictions for Bitcoin.

Leading cryptocurrency analyst Jamie Coutts said a bullish reversal could be imminent.

A cryptocurrency analyst predicted that Bitcoin would surge 500% to $330,000, attracting the attention of the cryptocurrency community.

The German government's Bitcoin sell-off has ended, and overall sentiment has begun to be positive.

US Bitcoin whales are stepping up their accumulation efforts, indicating confidence in Bitcoin's future price trend.

📈 Technical analysis

Order book analysis: The order book shows strong support around $59,890 and resistance at $59,900. The bid-ask spread is narrow, indicating a balanced market.

RSI: The RSI is currently at 67.47, indicating that BTC is approaching the overbought area, but has not yet fully arrived.

Bollinger Bands: The current price is close to the upper Bollinger Band at $60025.32, indicating that BTC may be overbought and may face resistance.

Pivot Point: The price is hovering around the pivot point of $60029.11, with immediate support at $59762.22 and resistance at $60166.89.

DMI: ADX is strong at 46.86, indicating a strong trend. +DI is significantly above -DI, ​​indicating a bullish trend.

MA: The moving averages are trending up, with the current value at $58694.42, indicating a bullish trend.

MACD: MACD is above the signal line with a positive histogram, indicating bullish momentum.

KDJ: The K value is at 81.56, indicating that BTC is in the overbought zone, which may lead to a short-term pullback.

💡 Recommendations and Trading Strategies

Given the overall bullish sentiment and strong technical indicators, long positions are recommended.

For short-term trading, consider establishing a long position near the current price of $59,900.

Set a profit target near the overhead resistance level of $60,571.56.

Set a stop loss just below the immediate support level of $59,762.22 to manage risk.

Confidence levels are high due to strong ADX and positive news sentiment, but caution is recommended due to overbought signals of RSI and KDJ.

Technical analysis is based on 1h candlestick chart indicators, which users who like short-term trading can refer to.