BTC daily level technical analysis, including moving average, trend line, MACD, RSI and trading volume (Vol):
1. Moving Average (MA) Analysis:
MA(7) = 68,132.84, the short-term moving average is rising, indicating a bullish short-term trend.
MA(25) = 64,268.25 and MA(99) = 62,021.05 are also in an upward trend and the price is above the moving averages, reflecting that the market is still in a bullish pattern in the medium and long term.
2. Trend lines and support/resistance levels:
The ascending trend line in the chart starts near $49,000, showing price swings above the support line. The current support level is around $64,000, with stronger support around $62,000.
The key resistance above is at $71,997.02. If the price breaks through $70,000, the next target may be centered around $73,000.
3. MACD:
DIF(1,862.80) is greater than DEA(1,318.72), and the MACD histogram shows green, which indicates that the bullish trend is strong, the buyer's power is significant, and the price may continue to rise in the short term.
4.RSI:
RSI(6) = 82.78, which is in overbought territory, which is usually a sign that prices may be at risk of a pullback in the short term. A high RSI indicates that market sentiment is biased toward overheating, and we need to be wary of short-term profit-taking.
5. Volume (Vol) analysis:
Recent volume can be enhanced: recent trading volume has gradually increased, showing increased market activity and strong buying power. When the price rises and is accompanied by an increase in trading volume, it indicates that this rise has financial support and the trend is relatively stable.
Volume-price relationship: When prices rise, trading volume increases simultaneously. This is a healthy signal, indicating that the market consensus on price increases has increased. If the price exceeds $70,000 in the future and the volume continues to increase, this will be conducive to the continuation of the trend.
Volume warning: If the trading volume decreases significantly while the price rises in the future, it may indicate that the power of bulls is weakening and the price upward momentum is reduced. You need to be alert to the possibility of trend reversal.
Strategic suggestions:
Target price: If it breaks through $69,000-70,000, the next target may be $73,000.
Take profit price: It can be set in the range of 70,000-73,000 US dollars, and the profit will be taken gradually according to the market conditions.
Stop loss price: It can be set at US$64,000 to US$62,000, which is a strong support area.
