Bitcoin (BTC/USDT) in-depth analysis: Bullish signals are increasing, is a breakout imminent?
In-depth analysis of Bitcoin's recent market dynamics:
Strong rebound in the support area: Bitcoin has recently performed well and rebounded in the yellow support area of 62,377.7 to 59,586.4. This area is seen as a solid backstop for the market, effectively preventing prices from falling further. This round of rebound may indicate that the market has passed the last stage of violent volatility, and there is an 80% probability that we are standing at the starting point of a new round of bullish trend.
Upward trend is obvious: The current market trend releases strong bullish signals, indicating that Bitcoin is entering a new upward cycle. Technical indicators, such as the Stochastic RSI, have shown a bullish crossover, providing strong support for the continuation of this trend.
Filling the price gap: There is a key price gap near 65,000, and the market tends to fill such gaps, so the possibility of reaching this level in the short term has increased significantly.
Short liquidation pressure: A large number of short liquidations are expected in the range of 70,000 to 73,000. This will trigger a buying wave as shorts are forced to cover, further pushing prices up.
Resistance level analysis:
65,000: As a price gap, this position may become an initial test for short-term gains.
70,061.9: Major resistance area, or trigger a small adjustment.
73,844.9: Previous high, if broken, will accelerate the upward trend.
Trading strategy recommendations:
Buy low strategy: Given the obvious bullish trend, buying on dips becomes the preferred strategy, especially when there is a small pullback or correction.
Pay attention to liquidation dynamics: Closely monitor the short liquidation at the 70,000 and 73,000 levels, these events may become catalysts for price surges.
