Market alert...Will BTC's future trend be a pullback or continue to rise? Here are some key observation points:
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Price level: The current price of BTC is about $62,206, facing strong resistance at $62,691, while the previous high is around $64,448.
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KDJ indicator: The values of K line (86.78) and D line (85.90) are high, which suggests that the market may be overbought. This may indicate that the price may reverse or the upward momentum may slow down.
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RSI (Relative Strength Index): RSI is currently 66.40, close to but not yet at the extreme level of overbought, which means that the price may continue to rise before a reversal occurs.
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Support level: Based on the previous low, the market has strong support around $58,900.
Uptrend: The market has recently rebounded from $58,900, showing a bullish trend.
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Next Steps: Although the price is close to the resistance level and has shown overbought signals, if the price can break through $62,691, it may rise further to $64,448. However, if the price fails to sustain above this level or the KDJ and RSI confirm the overbought status, the market may experience a correction.