. Moving averages:
- 7-day Exponential Moving Average (EMA7) at 69,601.29 (yellow line).
- The 25-day Exponential Moving Average (EMA25) is at 68,157.70 (red line).
- The 99-day Exponential Moving Average (EMA99) is at 63,720.54 (purple line).
The price being above these three averages indicates a strong upward trend.
2. Fibonacci levels:
- Level 0.786 at 66,858.77.
- Level 0.618 at 61,572.88.
- Level 0.5 at 57,860.07.
- Level 0.382 at 54,147.36.
- Level 0.236 at 49,553.16.
- Level 0 at 42,128.03.
These Fibonacci levels are important supports and resistances from which the price can bounce.
3. Trend and momentum indicators:
The MACD indicator shows a negative value at -15.16, which may indicate weakness in the upward momentum.
- The DIF line at 1,133.73 is higher than the DEA line at 1,148.89, indicating a potential buy signal.
4. Trading volume:
- High trading volume enhances the upward or downward movement, and observing high trading volume supports the validity of the current trend.
5. Japanese candlesticks:
- Japanese candlesticks show fluctuation in the price, as the price is trading around the level of 69,513.43.
Conclusion:
The price is trading in a strong upward trend, supported by moving averages and Fibonacci levels. However, the MACD indicator is showing weakness in the upward momentum. Therefore, it may be wise to monitor nearby support levels (such as 66,858.77) to confirm the continuation of the uptrend or the possibility of a correction.
Trading volume and MACD future signals should be monitored to get clearer signals about the future direction of the price.
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