Bitcoin is currently in a strong uptrend with many positive signals from technical indicators.

BTC Technical Analysis with Latest Data from Coingecko

General Information

• Current Price: $57,054

• 24h high: $57,897

• 24h Low: $54,599

• Price increase in 24h: +4.16%

• All-time high (ATH): $73,738 (-22.39% from ATH)

• 24h trading volume: $36.87 billion

• Market capitalization: $1.13 trillion USD

• Circulating supply: 19,752,081 BTC (maximum total supply is 21,000,000 BTC)

Apply 14 Combined Indicators

1. Identify the Main Trend

• MA (Moving Average): Use the 50-day and 200-day MA lines. BTC is currently above both of these MA lines, indicating that the long-term and medium-term trends are bullish.

• EMA (Exponential Moving Average): The 20-day EMA is supporting the current price, indicating that the short-term bullish momentum is still strong.

2. Identify Overbought/Oversold Zones

• RSI (Relative Strength Index): The current RSI is around 65, showing that BTC is approaching the overbought zone but has not completely crossed the threshold, indicating that there is still room to increase.

• Stochastic Oscillator: Stochastic is in the 80-85 zone, confirming that BTC is near overbought levels but could continue to rise if the momentum is strong.

3. Volume Analysis

• Volume: Trading volume over the past 24 hours is high, confirming support for the current uptrend.

• MACD (Moving Average Convergence Divergence): The MACD line is crossing above the signal line, indicating a strong buy signal.

4. Identify Support and Resistance Levels

• Fibonacci Retracement: Identify key Fibonacci levels from the recent high ($73,738) to the recent low ($54,599). The 38.2% Fibonacci level around $58,500 could be immediate resistance.

• Bollinger Bands: BTC price is currently in the middle of the upper band of Bollinger Bands, indicating that there is still room to increase to the upper boundary at around $59,000 - $60,000.

5. Find Entry/Exit Points

• Parabolic SAR: The SAR point is currently below the price, giving a buy signal.

• CCI (Commodity Channel Index): CCI is at 100, indicating a strong uptrend.

Order Entry Strategy

• Entry: $57,000 - $57,200 (near 20-day EMA support and psychological resistance $57,000).

• Take Profit (TP): $59,000 - $60,000 (near the upper border of Bollinger Bands and the 38.2% Fibonacci level).

• Stop Loss (SL): $55,000 (below the 24-hour low and near the psychological support level of $55,000).

Probability of Achieving Goal

• TP Probability: 65% (based on strong volume, MA trend, and momentum indicators).

• SL Avoidance Probability: 80% (SL is set at strong support level and based on recent price movements).

Conclude

Bitcoin is currently in a strong uptrend with many positive signals from technical indicators. With an entry near $57,000, setting a profit target at $59,000 - $60,000 and a stop loss below $55,000 is a reasonable strategy to optimize profits in the short term. However, it is necessary to closely monitor macro factors and market news to adjust the strategy if necessary.