K-line chart and BTC current technical analysis
From the 4-hour chart, after a sharp drop, the BTC price has formed a short-term support in the 60,000-61,000 area. The current price is around 62,000, and there are signs of shock consolidation in the short term.
The trend of the MA moving averages (5, 10, 30) shows that the price is still under short-selling pressure, but in the short term the price is trying to stabilize above 62,000, which indicates that the bullish force is gradually returning.
Yesterday, the BTC price hit a low of 59,800, and then quickly rebounded and tested the pressure level of 62,500. The price has now stabilized at around 62,000. If the price continues to maintain this level, bulls are expected to exert further strength.
Technical indicators support:
The MA moving average system shows that the short-term support is at 61,500-62,000, and the short-term pressure is in the range of 62,500-63,000.
Bollinger Bands shows that the oscillation range has narrowed, indicating that the price will usher in a breakthrough and may test the pressure of the upper track of 63,000 in the short term.
The MACD indicator is at a low level, the short-selling force is weakening, and the long-selling force is gradually increasing.
Operation suggestions:
Conservative strategy: If the BTC price can stabilize above 62,000, it is recommended to arrange a light position, target the 62,500-63,000 range, and set the stop loss below 61,500.
Aggressive strategy: If the price breaks through the 62,500 pressure level, you can increase your position to 63,000 and pay attention to whether the price can stand firmly above 63,000. If it fails to break through, it is recommended to take short-term profits.
Today, BTC's short-term trend is volatile, and the bulls have a rebound trend, but have not yet fully formed an effective breakthrough. The price needs to stay above 62,000 to rise further. Aggressive investors can increase their positions after breaking through 62,500, while conservative investors can consider it again when the price falls back to around 61,500.
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