Current status and technical analysis:
1. Technical indicators:
Candlesticks show volatile movements within tight price ranges, indicating volatility and perhaps the beginning of a new trend.
MACD indicator in different time periods shows slight positive divergence, but the changes in trend are not decisive.
Resistance and support ranges are clearly visible at specific levels:
R1: Levels around $71,000 - $74,000 (strong resistance).
S1 and S2: appear at $50,900 and $46,137 respectively (representing important support levels).
2. Achieving goals:
The target achievement rate in some time frames is around 44%, which means that the market is fluctuating unstable, with limited success in reaching the target levels.
3. Possible correction indicators:
Sell signals appearing on multiple charts (especially on the daily frame) may reflect the beginning of a corrective movement.
ADX is low, indicating weakness in the current trend and a possible correction.
Warnings:
1. Expected corrective movement:
The market is facing resistance at the $69,000-$71,000 levels, which increases the possibility of a pullback towards the support levels ($65,000 or even $62,000).
If the support at $65,000 is broken, we could see a deeper decline towards $62,000 or lower.
2. Beware of volatility:
High volatility range indicates high risk for speculators. It is important to wait for confirmation of trading signals before opening new positions.
3. Sell at high levels:
Given the current levels, if the price continues to approach the resistance ($71,000), it might be better to take profits, especially with the correction indicators.
Conclusion:
Expect a correction soon with a decline towards at least $65,000 levels. It is preferable to be cautious in making buy and sell decisions, and wait for additional confirmation signals.
Risk management is essential at this stage; placing stop loss orders close to support levels may help minimize potential losses.
This analysis suggests that Bitcoin may witness an imminent corrective movement, which requires extreme caution in trading in the coming days.
