1. K-line chart analysis and market status

From the BTC/USDT 1-hour candlestick chart, we can see that the current price is around 58370 USDT. The price peaked at around 65175 USDT yesterday and then began to fall. It fell to around 58300 USDT this morning and found support. The short-term moving averages MA(5) and MA(10) tend to be stable, and MA(30) is flat, indicating that the market has a certain support strength at the current price.

Market psychology: Yesterday’s deep correction provided the market with a new entry opportunity. If the support of 58,300 USDT can be maintained in the short term, there may be a chance for a rebound.

2. Technical indicators and trend forecast

  1. Moving Average (MA)

    • MA(5)：58804.1 USDT

    • MA(10)：58867.0 USDT

    • MA(30)：59021.2 USDT

The current price is slightly below MA(10). If it can break through MA(10) and stabilize, it will form a further upward trend.

  1. Volume

    • The trading volume shows that market activity has declined, indicating that market sentiment is cautious in the short term. If the trading volume increases, it may trigger a rebound.

  2. Relative Strength Index (RSI)

    • The RSI fluctuates between 40 and 50, indicating that the price direction is not yet clear, but as the price approaches the support level, it may attract more buying intervention.

3. Operation suggestions and stop-profit and stop-loss

Prediction: If BTC/USDT can break through the short-term resistance level of 58867 USDT and stabilize above it, the price is expected to rebound further to the 59100 USDT area.

Operation suggestions:

  1. First take profit position

    • 59100 USDT. If the price breaks through this position, it is recommended to partially take profit and lock in the initial profit.

  2. Second take profit position

    • 59300 USDT. If the price continues to rise to this level, you can consider taking all profits.

  3. Stop Loss

    • 58000 USDT. If the price falls below this position, it indicates that the rebound has failed. It is recommended to exit with a stop loss to prevent further downside risks.

Position building strategy: It is recommended to enter the market after the price breaks through MA(10) and stabilizes. If the price breaks through 58867 USDT, you can increase your position appropriately, with the target at 59100 USDT.

4. Summary and Direction Suggestions

BTC/USDT is currently in a critical stage of rebound. If it can break through 58867 USDT, it will be expected to rebound further. It is recommended to pay close attention to the changes in trading volume and the effectiveness of price breakthroughs. The target is 59100 USDT. Pay attention to the setting of stop loss to prevent sudden market risks.
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