1. Qualitative Analysis
• Market Situation: Bitcoin remains the leading digital asset, attracting strong interest from institutional investors. Recent news from Bloomberg and Reuters shows continued expansion of BTC adoption, especially amid inflation and global economic risks.
2. Quantitative Analysis
• Current Price: $57,895.99 USDT
• 24h trading volume: Bitcoin trading volume has decreased slightly but remains high, indicating steady interest from investors.
• RSI (Relative Strength Index): The current RSI fluctuates around 45-50, indicating that the market is in a neutral state, with no clear signs of overbought or oversold.
• MACD: MACD is crossing below the signal line, suggesting a possible short-term correction.
3. Technical Analysis
• Resistance and Support: The current key resistance level is at $61,000 and the key support level is at $56,000. If Bitcoin falls below this support level, it is likely to continue correcting towards the next support level around $54,000.
• Candlestick Patterns: Recent candlestick patterns show a correction after hitting resistance, which could lead to further correction if there is no strong support from the market.
4. Volume Analysis
• Trading volume: Declining trading volume shows investor caution. This could be a signal of profit-taking after a previous price increase.
5. Wyckoff Analysis
• Market Cycle: Bitcoin may be in a correction phase after a strong rally, which is consistent with signals from volume and price.
6. Elliott Wave Analysis
• Corrective wave: Bitcoin may be in an ABC corrective wave after completing the main bullish wave, which suggests a possible further correction before entering a new bullish cycle.
7. Dow Theory Analysis
• Main trend: Bitcoin's main trend remains bullish in the long term, but is facing short-term correction pressure.
8. Probabilistic Analysis
• Probability of price increase: With current technical signals, the probability of Bitcoin price increase in the daily frame is about 50-55%, due to signs of technical correction.
9. Market Sentiment Analysis
• Sentiment: Market sentiment on Bitcoin is showing signs of caution, with many investors expressing concern about the possibility of further correction.
10. Investment Recommendations
• Entry: If considering buying, wait for the price to correct to strong support around $56,000 before entering, if there is confirmation from increasing volume.
• Take Profit (TP): Set a short-term profit target at $60,000 to $61,000 if price rebounds from support.
• Stop Loss (SL): Place SL below the $54,000 support level to protect capital in case the market goes against the trend.
Conclude
Bitcoin is currently in a short-term correction phase after a surge. Investors should be cautious and wait for confirmation signals from the market before making a buying or selling decision. The probability of a short-term price increase is relatively low, so it is necessary to closely monitor important support and resistance levels.
