BTC gradually rose in a wave of rising market that started in mid-September, reaching a high of 66,450 points before a correction. After a short-term consolidation, the price rebounded from the bottom of 62,000 points yesterday, and has risen to 64,872.8 points so far today. The price is now near an important resistance level, and the long and short sides are in a tug-of-war state.
BTC is currently in an upward channel and is expected to continue to hit the 65,000 resistance level in the short term. If it can effectively break through this level, it may continue to rise to around 65,500 points. However, due to the large short-term volatility of the market, traders are advised to remain cautious in their operations.
Technical indicator analysis:
Moving average system (MA5, MA10, MA30): The current price is above MA5 (63452.6) and close to MA10 (63076.4). The short-term moving average is on an upward trend, indicating that bullish sentiment has strengthened in the short term, and the price is likely to continue to fluctuate upward along the short-term moving average.
Bollinger Bands (BOLL): The middle track of the Bollinger Bands is 62,000. The current price breaks through the upper track of the Bollinger Bands, and the upper track begins to diverge, indicating that the current volatility is increasing and the market volatility is increasing. The upper Bollinger Band resistance level is about 65,000 points, and this level may be further tested in the future.
K-line pattern: Yesterday, a small positive line with a lower shadow was closed, indicating that there is strong buying support below. Today's K-line is likely to close with a positive line and is expected to continue to test the upper resistance of 65,000 points.
Trading volume analysis: Yesterday's rebound showed that the market's buying power has increased, and it is expected that today's trading volume will remain active. If the price breaks through 65,000 today and the volume increases, it indicates that there will be further upward momentum in the short term.
Operation suggestions:
Conservative strategy:
You can consider going long with a light position in the range of 64000-64100, with the target at 65000 and the stop loss at 63000.Aggressive Strategy:
If the price breaks through 65,000 points and stabilizes, you can consider adding positions, with the target at 65,500. The stop loss is also set around 63,000. It is recommended to strictly control the position.
BTC is expected to continue its upward trend today, and it is likely to break through 65,000 points. However, due to the strong selling pressure from above, we need to be alert to the risk of a pullback in this area. Traders can flexibly adjust their operation strategies according to the above support and resistance levels, and focus on the breakthrough of 65,000.
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!If you want to know more about the latest market information and trading tips, click on the avatar to follow Lao Lin. Thank you for reading!
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