Bitcoin (BTC) 4K chart
In the past few days, BTC continued to rise and successfully broke through the psychological barrier of 69,000 US dollars. Although there have been some pullbacks, it still remains in a high level overall.
This shows that the market is in a strong upward trend, but the short-term volatility has intensified, especially after the high of 69,000, there has been a small adjustment.
Bitcoin (BTC) 1K chart
2. Today’s BTC prediction:
Combined with the current trend, the market may fluctuate in a range today, but the overall trend is still inclined to maintain high consolidation. With the correction last night, the market is expected to fluctuate in the range of 68,400 to 69,000 today and try to hit the high point for the second time. However, it should be noted that if it fails to effectively break through $69,000, there may be a large correction to the range of $68,000-67,500.
3. Technical Analysis:
Moving average analysis: The short-term moving averages (5 days, 10 days, and 20 days) still show an upward divergent trend, indicating that the bullish momentum is still strong, especially the 20-day moving average, which currently provides strong support, approximately between US$68,000 and US$68,200.
Bollinger Bands: The Bollinger Bands are currently in an open expansion state, with the upper band near $69,000, indicating that there is limited upside in the short term. The lower band is supported at around $68,000, so it may fluctuate within this range in the short term.
MACD indicator: The fast line and slow line are close to the golden cross, indicating that the bulls may launch another offensive, but the slowdown in volume may foreshadow a tug-of-war between the bulls and bears in the short term.
4. Today's operation suggestions:
If the price falls back to the 68200-68400 area and gets support, you can consider entering the market and going long.
Zhiying position: 69000-69200. If the price can effectively break through this range, it will further open up the upside space, and the target may point to 69500-70000.
Stop loss: 67200. If the price falls below this level, it means that the short-term bullish momentum is weakened, and it is necessary to stop loss and exit in time to prevent further pullback.
According to today's technical analysis and market trends, BTC is likely to fluctuate in the range of $68,000-69,000 today. It is not recommended to chase the rise before it fails to effectively break through $69,000. For short-term operations, it is recommended to enter the market in batches after the price falls back to the support level. What needs to be vigilant is that if the $68,000 support cannot be maintained, a deeper correction may occur.
In terms of overall direction, BTC is still in a bull market, but in the short term, we need to be wary of volatility risks and pay attention to whether the key support level of 68,000 can be stabilized.
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