đTechnical Analysis
Based on the technical chart you provided, we can make some of the following observations:
1. Resistance and support:
- Resistance: There is a strong resistance zone around $72,048 - $71,047.33. The price has approached this zone and is likely to have difficulty breaking through immediately.
- Support: Important support zone at $66,923.32 - $65,922.29. If the price drops, this will be a strong support zone that can prevent a deep decline.
2. Trend line: The ascending trend line from the March bottom to the present shows that the long-term uptrend is still valid, despite a short-term correction.
3. Bollinger Bands: Price is currently trading near the upper band of Bollinger Bands, indicating the possibility of short-term overbought. This could lead to a minor correction before resuming the uptrend.
4. Trading volume: Trading volume did not have a large spike, showing stability in trading without major changes in supply and demand.
5. RSI: RSI is at 65.97, not yet overbought (70), but not too low either. This shows that the price may have the ability to correct but is still in an uptrend.
đConclusion
Next week, BTC/USD price may have a slight correction due to approaching strong resistance areas and technical signals from Bollinger Bands and RSI. However, the long-term trend is still bullish if the price does not break the important support line.
- Short term: Small correction possible, price could fall to $66,923 - $65,922 before finding support.
- Long-term: The uptrend remains valid, the long-term target could be to overcome the $72,048 resistance level if there is a boost from positive fundamentals.
Following news and price action closely is important to make accurate trading decisions.
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