Recent Trend Analysis

Long-term trends:

  • BTC has shown significant volatility from the beginning of 2021 to date, reaching an all-time high of $73,881.4 in April 2021.

  • The price then experienced a sharp correction, hitting a low of $15,443.2 in June 2022.

  • After that, the price gradually recovered and is currently at US$64,166.3.

Medium-term trend:

  • From the beginning of 2023 to the present, the price of BTC has shown a fluctuating upward trend, indicating that the medium-term market sentiment is relatively optimistic.

Short-term trends:

  • The current price is fluctuating around $64,000 and may consolidate in this area in the short term, waiting for further breakthroughs.

Key technical indicators

Moving average:

  • 7-week moving average (MA7): 62396.8

  • 30-week moving average (MA30): 1,487,590.3234

  • The current price is significantly higher than the 7-week moving average, indicating that the short-term market sentiment is relatively bullish.

Volume:

  • Trading volume has increased recently, indicating that market trading activity has increased and capital inflows have been significant.

Yesterday's position

  • Opening price: 68215.60

  • Closing price: 64166.30

  • Highest price: 70081.00

  • Lowest price: 64083.00

Today's forecast point

First take profit position

  • First stop profit: $65,000

    • The first resistance level in the short term. If this level is broken, the price is expected to continue to rise.

Second take profit position

  • Second stop profit level: $67,000

    • If the price breaks above $65,000, it can move further up towards $67,000.

Stop Loss

  • Stop loss: $62,000

    • If the price falls below $62,000, it may fall further and stop loss in time.

Trend

Short-term trends:

  • In the short term, the price may fluctuate between $62,000 and $65,000. If it can break through $65,000, it is expected to rise further.

Medium-term trend:

  • Standing firmly above $62,000 shows that prices are expected to continue to rise, but we need to be vigilant about a possible pullback.

Long-term trends:

  • The price is still in an upward channel. If it can break through and stabilize above $65,000, it is expected to continue its long-term upward trend.