BTC may continue to fluctuate around $63,000 in the short term, waiting for signals of a breakthrough or pullback.

The price is currently fluctuating near the middle track of the Bollinger Bands. The opening of the Bollinger Bands is narrow, and market volatility is decreasing. If the price can break through the upper track and be accompanied by an increase in trading volume, it may have further upward momentum; conversely, if it falls below the lower track, , there may be downward pressure.

The current 50-day moving average and the 200-day moving average show a certain crossover. If the price can remain above the moving average, the short-term upward trend will continue. Moreover, there has been no significant increase or decrease signal in recent trading volume.

Long strategy:

You can consider taking a long position near $63,000. If the price exceeds $63,500, you can consider adding a position. Stop loss: The stop loss point is recommended to be set below $62,000 to prevent the risk of market retracement in the short term. Take profit: The first take profit target can be set near US$64,000. If this price is exceeded, further adjustment of the profit stop point to the range of US$64,500-65,000 can be considered.

Short selling strategy:

If the price falls below US$62,500 and the trading volume increases, you can consider shorting the position with a target of around US$61,500. Stop loss: It is recommended to set the stop loss above $63,000 to avoid premature loss.

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