Trend analysis of BTC7.1:
● The daily chart shows that after experiencing large fluctuations recently, the price is currently in the stage of consolidation. The long lower shadow of No. 6.8 indicates that there is strong support below.
● In the 4-hour K-line chart, a long upper shadow line appeared between 08:00 and 16:00 on No. 7.1, indicating greater pressure above.
● Within the 4-hour period, the MACD histogram turned from negative to positive, and the DIF line crossed the DEA line to form a golden cross, indicating an obvious short-term bullish signal. However, it should be noted that there may be selling pressure near the previous high.
● The current RSI value is 61.6, which is close to the overbought range, but has not yet entered. There is still room for growth in the short term. However, we need to be wary of the risk of a correction after an excessive rise.
● The current price is above EMA7 (62574.5) and EMA30 (61854.6), and EMA7 crosses EMA30, showing a bullish arrangement and a positive trend. EMA120 (63764.0) is at a higher level and serves as a reference for long-term resistance.
● Daily trading volume reached a peak of 147,778 on June 30, and then decreased, indicating that market sentiment is gradually stabilizing.
Within the 4-hour period, the trading volume from 08:00 to 12:00 on July 1 increased significantly, reaching 49,754. Along with the rapid rise in prices, it showed that the fund-driven effect was obvious.
BTC7.1 focus point: $BTC
Lower support focus point: 62000-61000
The upper pressure focus is: 64000-64800
