$BTC BTC/USDTThe current market situation shows that the current price is fluctuating around 71,021, with a 24-hour high of 71,632 and a low of 68,830. Bitcoin's recent upward momentum is quite obvious, breaking through the psychological barrier of 71,000, and the market sentiment is optimistic in the short term.
Market analysis and suggestions
Opening long strategy
The price is currently above 71,000. If the price can stabilize above 70,800 in the short term, then you can consider opening long and follow the upward trend.
Entry point: between 70,800-71,100
Take profit target: 72,000-73,000, and further look at 74,000 (if the upward trend is strong)
Stop loss point: below 70,200
Opening short strategy
If Bitcoin is obviously blocked from rising near 71,500, unable to break through and start to fall back, you can consider trying to open a short position at a high level.
Entry point: 71,400-71,600 range
Take profit target: 70,000-69,500
Stop loss point: above 72,000
Technical indicator observation
MA moving average: In the short term, MA (7) shows an upward trend at 69,896, which provides support for the price, indicating that the bullish sentiment is strong in the short term.
RSI: The current RSI (12) is around 64, slightly biased towards the overbought range. If the price continues to rise, be alert to the pullback after overbought.
MACD: MACD is in the bullish area, and the column is still green, indicating that the bulls are strong.
Comprehensive suggestions
In the short term, Bitcoin shows strong support above 70,000, and the market sentiment is optimistic. It is recommended to follow the trend, but do not chase too high. Pay attention to controlling the position. If the price encounters resistance near 71,500, you can try short orders appropriately to prevent the risk of pullback. Do a good job of stop profit and stop loss to avoid emotional operations caused by market fluctuations.
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