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.