The following key points can be seen from the K-line chart:
 

Short-term support and resistance: Yesterday, BTC gained some support near the key support level, and after a short rebound, it was limited by the upper resistance level. The current market presents a volatile pattern.

MACD indicator: The MACD indicator shows that the momentum has weakened. Although there are signs of stabilization, the overall trend is still not completely clear.

RSI indicator: The RSI indicator is close to the central axis area, indicating that the market's long and short forces are temporarily balanced, but slightly tending to the oversold range, and there may be opportunities for a short-term rebound.

2. Today’s forecast and operation suggestions

Based on the analysis of the candlestick chart and the above technical indicators, the trend of BTC today is expected to be as follows:

First support level: 58,400 – 58,500

  • This range was an important support level yesterday. If BTC finds support in this area, it may rebound in the short term.

Second support level: 58,150 – 58,250

  • If it falls below the first support level, BTC may continue to fall to this range, which is a strong support area, and strong buying support is expected here.

Resistance: 58,800 – 59,000

  • The upper resistance range is between 58,800 and 59,000. If BTC can break through this area, it may further test the upper resistance level, but more trading volume is needed.

3. Operation strategy

Admission: 58500-58600
First Zhiying position: 59000
Second Zhiying position: 60000
Stop position: 57600
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