Daily Line Analysis
From the daily chart, the current price of Bitcoin is $60,693. Yesterday, the price encountered resistance near $62,000 and fell back, forming a K-line with a long upper shadow. The MA10 moving average (yellow) continues to rise, indicating that the overall bullish trend is still there, but the MA30 moving average (pink) is slowing down, indicating that the upward momentum is weakening. The green bar chart in the MACD indicator begins to shorten, and the fast and slow lines show signs of crossing, suggesting that the market may enter a period of adjustment.
In the short term, the support in the $60,600 to $61,000 area is more critical. If Bitcoin can hold this level, it will have the opportunity to challenge the pressure level of $62,000 again; if it fails, it may further pull back to the lower support level around $60,000.
Four-hour line analysis
On the four-hour chart, the price of Bitcoin is hovering around $60,600, and the market is still in a state of shock adjustment in the short term. The MA10 and MA30 moving averages are gradually flattening, indicating that the short-term direction is unclear. The MACD indicator shows that the green bar chart is gradually shortening, the short-selling force has weakened, and the fast and slow lines are glued below the zero axis, indicating that the market is in a long-short game stage.
In the short term, if Bitcoin can break through $61,000 and stabilize, it is expected to hit $62,000; if it continues to run below $60,600, it may further test the support level, and pay attention to the support strength of $60,000.
One-hour line analysis
From the one-hour chart, Bitcoin price fluctuates frequently in the short term, indicating that the market is in a wait-and-see mood. MA5 and MA10 moving averages are running together, and the trend is relatively gentle. The red and green columns in the MACD indicator appear alternately, indicating that the market sentiment fluctuates greatly in the short term, and the fluctuation range is not large.
In terms of operation, if the price can break through $61,000 and the trading volume increases, you can consider short-term follow-up, with the target at $61,500-62,000. If the price falls below $60,500, you should wait and see cautiously to avoid blindly chasing the rise and selling the fall.
Recommendations
The current price of Bitcoin is $60,693. It may fluctuate between $60,500 and $61,000 in the short term. Investors are advised to wait patiently for the market direction to become clear before making any moves. If the price breaks through $61,000, investors may consider entering the market in batches; if it falls below $60,500, investors should suspend their moves and wait for further stabilization signals.
Risk Warning
The market is volatile, so you should control your positions and set stop-loss points when trading. Investors need to adjust their trading strategies based on their risk tolerance and avoid excessive pursuit of rising and falling prices.
