June 28, 2024

Bitcoin trend analysis

Today, Bitcoin's short-term support is in the 60300-60855 range, while the resistance is in the 65150-62250 range. From the 1-day chart, the opening and closing prices of the first three days were around 61750, MA5 and MA10 (green and orange lines) still showed downward, and the MACD fast and slow lines were below the 0 axis. Yesterday's trading volume was not large. Yesterday, BTC spot ETF companies had a total inflow of 118 million US dollars. RSI: 35, the panic greed index returned to 47 (neutral), and the current price was below the 50-day moving average and above the 200-day moving average. Analysis: The short-term trend is weak, and it is currently consolidating within the 50-day and 200-day moving averages. The price is being repaired. If you want to return to the bull market, you need to meet two conditions: 1. Break through and stand firm at 62250, and 2. The 5-day and 10-day moving averages must have a golden cross before you have a chance to return to the uptrend.

There are several important macro data tonight. It is expected that there will be large fluctuations tonight. Pay special attention to the US PCE and core PCE at 8:30 pm, followed by the annual inflation rate released by the University of Michigan at 10 pm. These two data will affect the trend tonight. If you want to know how the trend is tonight, please chat privately and join the group. The teacher in the group will analyze the trend and opinions tonight and provide everyone with reference to improve the winning rate.

The above analysis is only a personal opinion, for reference only and not any investment advice. Investment is risky, and you need to be cautious when entering the market