From the 8H line, BTC may be brewing a new direction. The price fluctuates mainly between MA20 and MA40. If the price breaks through MA20, BTC may rise to 64,000 again; if it falls below MA40, it may test the MA120 support (point: 60,548). At present, BTC is approaching MA40, and it is recommended to focus on the closing of the 8H cycle.
According to past performance, in the 8H cycle, if BTC repeatedly tests the MA20 and MA40 moving averages, it is likely to show a strong trend after subsequent breakouts. Since July, BTC has seen similar situations many times, with the highest increase exceeding 16%!
