#比特币 Bullish momentum is strong, multiple positive factors resonate
Bitcoin is ushering in an unprecedented bullish opportunity, and a series of positive events and market trends have jointly constructed a perfect upward signal.
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Politics and regulations help
Donald Trump's running mate relationship with cryptocurrency supporter JD Vance has injected new impetus into Bitcoin's rise. If Trump wins, Vance is expected to promote the introduction of cryptocurrency-friendly regulations.
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Market resilience is evident
Despite market fluctuations caused by events such as Mt. Gox's distribution of BTC, Bitcoin has successfully held its ground and broken through the $65,000 mark. Faced with the previous plunge (down to $54,000, and altcoins fell by 30%), the market rebounded quickly, showing strong resilience.
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Positive macroeconomic environment
Federal Reserve Chairman Jerome Powell mentioned progress in fighting inflation, and the market expects a rate cut in September, providing support for risky assets such as Bitcoin.
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Ethereum ETF is about to go online
The approach of Ethereum ETF (expected to start trading on July 23) is expected to attract more institutional funds into the market, which is not only good for Ethereum, but also indirectly drives Bitcoin up.
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Technical indicator analysis
The current price ($65,067) is slightly below the 50-period moving average ($65,156), but is much higher than the 200-period moving average ($62,362), showing a medium-term bullish trend.
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RSI is close to the neutral 50 mark (47.83), and the market is in a consolidation phase. In the future, RSI needs to rise above 50 to confirm new upward momentum.
MACD is bearish in the short term, but the long-term trend remains bullish.
The volume oscillator shows that the volume flow is not favorable for bulls, but Bitcoin needs to stay above the 200-period moving average to consolidate the foundation.
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Future Outlook
If Bitcoin can stabilize above $62,362, it is expected to rebound to $68,000.
If it falls below this support level, it may test the $60,000 area.
Wildcat will continue to look for high-quality coins for fans.
It will soon be the bull market stage after the interest rate cut.
My next goal is to increase the price by 10 times, or even 100 times. I have already started to ambush.
If you still don’t know how to do it in the spot market, I still say that, deduct 8 in the comment area, and I will take you to shore! #BTC☀ #G
