Technical analysis of BTC trend: Yesterday, BTC price encountered resistance at $65,800, and failed to break through after multiple attempts, and finally fell back to around $65,100. If the trading volume fails to increase effectively today, the price may continue to fluctuate in the range of $64,500-65,800. Overall, the bulls are still dominant, and it is expected to continue to rise after the adjustment.
4-hour candlestick chart
 

From the 4-hour K-line chart, BTC has recently shown a fluctuating upward trend, and market sentiment has warmed up. The current price of BTC is $65,779.7, which has a slight correction compared with yesterday.
1-hour candlestick chart
 


The K-line shows the game between long and short forces, but the overall trend is still upward.

1. Technical Analysis

Moving average analysis:

  • EMA7 (short term): $59,991.2, which is a certain distance from the current price, indicating that the market has correction pressure in the short term, but the overall upward trend remains good.

  • MA5 (short term): $59043.4 and MA10 (medium term): $58961.4 are both rising, showing that the market's short-term trend remains healthy.

  • MA30 (long term): 59856.9 USD. The long-term trend is stable and the pressure of callback is not large. It is expected that the price will fluctuate and consolidate near the support level in the short term.

Volume Analysis:

  • The trading volume increased yesterday, but has shrunk, indicating that the market sentiment is somewhat cautious in the short term. The bulls are slightly weak, but the bears have not yet launched a strong offensive.

Technical indicators:

  • MACD: The fast and slow lines are above the zero axis. Although there are signs of narrowing, no obvious death cross has been formed, indicating that the bulls are dominant. In the short term, the price may enter an adjustment range, but the overall trend is still bullish.

  • RSI: The current RSI index is about 65, close to the overbought zone, but there is still some room for upward movement. It is expected that the price will fluctuate violently in the short term, and attention should be paid to the upper pressure level.

  • Bollinger Bands: The price is between the middle and upper bands of the Bollinger Bands, with a large fluctuation range. If it fails to break through the upper band, it may pull back to near the middle band.

2. Support and resistance level analysis

  1. The first support level is $65,000. If it falls below this level, it may test the second support level of $64,500.

  2. The second support level: $64,500. This support level is more critical. If the price is supported here, it is expected to continue to rise.

  3. Pressure level: $65,800. This pressure level was tested several times yesterday but failed to break through effectively. If it breaks through today, BTC may rise to $66,000.

3. Operation strategy

  • If the BTC price falls back to around $65,000, you can consider going long with a light position, with the target at $65,800 and the stop loss at $64,500.

  • If the price breaks through $65,800, you can increase your position, with the target at $66,000-66,500 and the stop loss at $65,500.

BTC is expected to maintain a volatile upward trend today. In the short term, we need to pay attention to whether the support of $65,000 and $64,500 is effective. If it can stabilize at the support level, the price is expected to continue to rise and challenge the resistance level of $66,000. It is recommended to be cautious in operation, mainly buy low, and do not chase high.

Today's direction: Oscillating upward, mainly buying at low prices, paying attention to the effectiveness of the $65,000 and $64,500 support levels.
The market is unpredictable and opportunities are fleeting. Only by paying close attention to every subtle change and seizing your own opportunities can you remain invincible in the ups and downs of the market. Are you ready today? Let's look forward to the wonderful performance of the market together!

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