12.17 BTC Analysis

Yesterday, BTC continued its upward trend, breaking the historical high again, reaching 107793, and heading towards the target position of 110000. How long do you think it will take to reach 110000? One day, one week, one month?

Candlestick Pattern:

Recently, the candlestick pattern has shown a clear upward trend, especially with a significant increase between December 15 and 16.

On December 16, a long bullish candle was formed, indicating strong buying power.

Technical Indicators:

MACD: The 4-hour MACD has remained above the zero line, with both DIF and DEA diverging upwards, indicating that the current market is in a bullish trend. The daily MACD is also above the zero line but shows slight signs of divergence, which requires attention to subsequent changes.

RSI: The 4-hour RSI is close to the overbought area near 70, which may lead to short-term pullback pressure. However, it remains at a relatively high level, indicating market strength.

EMA: The price is currently above EMA7, EMA30, and EMA120, especially with EMA7 providing good support for the price, indicating that the short-term trend remains positive.

Trading Volume:

On December 16, the trading volume significantly increased alongside the price rise, indicating positive capital inflow, pushing prices higher.

In recent trading sessions, the trading volume has decreased, and caution is needed regarding potential adjustment risks. #BTC☀ #BTC再创新高