Daily Line Analysis
From the daily chart, after a continuous decline, the price of Bitcoin (BTC) is currently stable at around $58,525. The daily level shows that the price has stabilized after falling to $58,878.8 in the previous period, but the overall trend is still weak. The MA10 moving average (yellow) is suppressing from above, and BTC has tried to attack several times but failed. The MACD indicator shows that the fast and slow lines continue to run below the zero axis, and the green bar chart continues to expand, indicating that the short-selling force has not been fully released, and the price may continue to consolidate at a low level.
Four-hour line analysis
In the four-hour chart, the price of BTC is still fluctuating at a low level, currently hovering around $58,525. The MA30 moving average (pink) shows a clear suppression effect, and the price has not been able to break through in the short term. In the MACD indicator, the fast and slow lines are glued together near the zero axis, and the red bar chart is gradually shortened, indicating that the long and short forces are temporarily stalemate, and the market is in a wait-and-see state. The recent trend is mainly small fluctuations, and investors need to pay attention to whether the price can break through the resistance level of $59,000 in the short term.
One-hour line analysis
From the one-hour line, the price of BTC fluctuates around $58,500 in the short term, with a small overall fluctuation. MA5 and MA10 moving averages tend to be smooth, indicating that the short-term market direction is unclear. The MACD fast and slow lines form a sticky trend above the zero axis, and the red and green columns appear alternately, reflecting that the market has a large divergence between long and short positions in the short term and has not yet formed a clear trend. Investors should pay attention to whether the one-hour line can show a signal of a large-scale upward attack. If it can effectively break through the short-term resistance level, it may usher in a rebound.
Recommendations
The current BTC price is fluctuating around $58,525, and there is a certain degree of uncertainty in the short term. Investors are advised to wait and see, waiting for the price to choose a direction between the key support level (US$58,300) and the resistance level (US$59,000). If the price effectively breaks through the resistance level of US$59,000, you can consider adding a proper amount of positions, with the target at around US$60,000; if the price falls below the support level of US$58,300, you need to be cautious and wait for further stabilization signals before entering the market.
Risk Warning
The market fluctuates greatly, so investors need to pay attention to controlling their positions, strictly setting stop losses, avoiding chasing high prices, and reasonably controlling risks.
