The following sharing is for reference only and does not constitute investment advice

$BTC BTC

BTC: Yesterday, Bitcoin continued to fluctuate and hit above 61,500 again. The daily chart closed with a medium-term positive line with long upper and lower shadows. For Bitcoin, the price has not recovered above the 200-day moving average, and the medium-term trend is still bearish, but the short-term performance is still relatively strong in the past few days. Every time it falls back, there are bargain hunting orders entering the market, and the price continues to hover below the 200-day moving average, which suggests that the market may hit the 200-day moving average boundary point, but before the price is recovered, market news can affect its continuous changes. In the long run, it is highly likely to recover the 200-day moving average.

Many people in the market have been hoping that the big cake can test the bottom again so that they can get on the train, but judging from the current performance, the possibility is not great, and the hope of reaching the previous low of 49,000 again is even slimmer. In the short term, the price has been standing firm on the 200-day moving average of the one-hour chart in the past few days. Every time it falls back above this line, funds will enter the market. If it tests this line again in the next two days, you can try to enter the market with a light position. The aggressive ones can directly focus on the price near 60,000 today. If it stands firmly above 60,000 today, it should test the 62,500 price again. If the price can break through the 62,000 price, then the chance of breaking through the 200-day moving average of the daily chart in the short term is greater.