【Price trend analysis】
1. K-line pattern:
- The recent K-line of Bitcoin shows obvious volatility, especially the sharp drop on June 7, 2024 and the shock consolidation in the following days.
- The price encountered resistance near 70,000 several times, forming a short-term top area. - MACD: MACD fast and slow lines (DIF and DEA) showed signs of dead cross at high levels, and the bar chart turned from positive to negative, indicating that the upward momentum weakened and there was a risk of a correction.
- RSI: RSI is currently around 55, falling from the overbought area, but not entering the oversold area, indicating that the market sentiment is neutral and bearish.
- EMA: EMA7 (69569.26) is close to the current price and may provide short-term support; EMA30 (68033.55) is a stronger support level;
EMA120 (62433.50) is a long-term trend support.
The recent trading volume is large, especially when the market plummeted on June 7, and it decreased in the following days, indicating that the market is digesting the previous gains.
The trading volume is gradually shrinking, indicating that the market is waiting and watching. Today's forecast is sideways $RNDR $ETH $SOL
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