BTC6.9 Market Analysis and Long-Short Strategy

The chart shows multiple moving averages. It can be seen that after the recent decline in BTC prices, it rebounded at an important support level. Multiple moving averages began to hover around the price, especially the short-term moving average (green line), which showed a slight rebound trend.

The long-term moving average (orange line) and the medium-term moving average (cyan line) are basically located near 69,000, indicating that there is a certain support force at this point.

Support and resistance:

The current support area is around $69,133.5 (green area) and the lower $68,140.5.

The resistance area is around $69,365.5 (red area) and the higher $72,223.

CCI indicator:

At the 30-minute level, the CCI indicator shows multiple highs and lows. At this time, the data is near zero, indicating that the market currently has no clear trend direction and is waiting for further signal confirmation.

Divergence Indicator:

The recent bullish (Bull) and bearish (Bear) signals have alternated many times, showing a certain market volatility. These signals remind us that there is a risk of price fluctuations in the short term.

Analysis and suggestions

In the 30-minute technical analysis:

Short-term trend forecast:

If the BTC price can effectively break through the resistance level of $69,365.5, it is possible to continue to rise and challenge the resistance range above $70,000.

If the price continues to be under pressure and falls below the support level of $69,133.5, it may further fall to the support area of ​​$68,140.5.

Trading strategy:

Long strategy: When the price breaks through $69,365.5 and confirms that it is stable, consider entering a long order in moderation. The target can be set above $70,000, and a stop loss can be set near $69,133.5.

Short strategy: Enter a short order when the price breaks through and confirms that it cannot stand at $69,133.5. The target can be set near $68,140.5, and the stop loss can be set near $69,365.5.

Risk management:

Whether taking a long or short strategy, it is recommended to keep the position within a reasonable range, always pay attention to market dynamics, and set stop loss and take profit to protect the safety of funds.