Daily Line Analysis
From the daily chart, the current price of Bitcoin is $63,871. BTC has shown a strong rebound trend recently. After breaking through the previous range of fluctuations, the price continued to rise. The MA10 moving average (yellow) rose rapidly, forming support, and the MA30 moving average (pink) also turned upward. The MACD indicator shows that the red bar chart continues to expand, and the golden cross formed by the fast and slow lines remains intact, indicating that the bulls are strong.
In the short term, $63,800 becomes the key support. If it can stabilize here, BTC is expected to continue to rise and challenge the high of $65,000. If this support level is lost, it may pull back to around $62,000 to seek support.
Four-hour line analysis
The four-hour chart shows that the price of Bitcoin has formed a platform near $63,800, showing an overall oscillating consolidation pattern. MA10 and MA30 moving averages are glued together at high levels, and the short-term upward momentum is weakened. In the MACD indicator, the red bar chart is gradually shortened, and the fast and slow lines are glued together at high levels, showing signs of forming a dead cross, indicating that there is a need for adjustment in the market in the short term.
At present, we need to pay attention to the resistance level of $64,000. If it breaks through this area and is accompanied by an increase in trading volume, it will continue to challenge $65,000. If the price falls back and falls below $63,500, it may test the support of $63,000 downward.
One-hour line analysis
From the one-hour chart, Bitcoin fluctuates slightly around $63,800, and the market is in a wait-and-see mood. MA5 and MA10 moving averages are basically overlapping, indicating a lack of clear direction in the short term. The MACD indicator shows that the red bar chart is shortened, and the fast and slow lines are hovering near the zero axis. The market may continue to fluctuate and consolidate in the short term.
In the short term, if the price breaks through $64,000 and the trading volume increases, it is recommended to follow up in the short term, with the target at $64,500-65,000. If the price falls below $63,500, it is necessary to operate with caution and it is recommended to wait and see.
Recommendations
The current price of Bitcoin is $63,871. It may fluctuate in the range of $63,500-64,000 in the short term. Investors are advised to remain patient and wait for the market direction to become clear before making any moves. If the price breaks through $64,000 and the trading volume increases, investors may consider entering the market in batches, with the target of $64,500-65,000. If the price falls below $63,500, 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.
