From the above BTC and ETH candlestick charts, there is a noticeable upward trend in the current market, especially as BTC breaks through multiple resistances in the short term, showing strong bullishness. Below is today's technical analysis prediction for BTC:

Technical Analysis Prediction

Short-term Trend: From the recent price movements on the candlestick chart, BTC has rapidly risen, indicating strong bullish sentiment in the market. The current trend aligns with an upward channel pattern, with prices fluctuating above the MA moving average, suggesting a high probability of a short-term bullish outlook.

Support and Resistance Levels

  • First Support Level: In the 71000-71200 range, this is the short-term bullish defense level. If BTC price retraces to this area and stabilizes, short-term bulls will still have the advantage.

  • Second Support Level: Around 70000, this is a crucial support position, and if breached, it may lead to further retracement.

  • Stop-Loss Level: It is suggested to set around 69500. If this level is breached, the bullish structure may be damaged, requiring a reassessment of the trend.

Technical Indicator Support:

  • MA Moving Average: From the 5, 10, and 30-day moving averages, the averages show a bullish arrangement, with prices running above MA5, indicating that there is still upward potential in the short term.

  • Candlestick Pattern: Recent movements show a 'higher lows' pattern, with each pullback's low gradually rising, which conforms to a typical upward trend pattern.

  • Bollinger Bands: Prices are near the upper band of the Bollinger Bands, and although there is some overbought pressure, if no major negative factors come into play in the short term, prices may continue to run along the upper band.

Strategy and Operation Suggestions:

  • If the price retraces to around 71000 today and stops falling, consider entering a small position to go long.

  • If the price breaks upward through 71500, it indicates that bullish strength is continuing to strengthen. You can appropriately increase your position, targeting 72000-72200.

  • While taking profits near 72000, remain vigilant. If the price rises rapidly and then retraces, consider repositioning near the first support level.

BTC is currently in a short-term upward momentum, expected to fluctuate between 71000-72000. If it breaks through 72000, there is a chance to challenge 72200 or even higher in the short term. It is recommended to build positions in batches and enter on dips while paying attention to stop-loss levels. If the stop-loss level is breached, timely action is needed to ensure risk control.
Market conditions are unpredictable, and opportunities may be fleeting. Closely monitor every subtle change, seize your opportunities, and you can stand undefeated amidst market fluctuations. Are you ready for today? Let's look forward to the exciting market performance together!

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