I. Technical Analysis
(1) Support and Resistance Levels
BTC has formed a strong support level at $80,000. Judging from past market performances, this price level has successfully withstood selling pressure multiple times, demonstrating the market's recognition of its value at this price. When the price dropped to $82,000, a certain degree of rebound occurred, indicating the presence of buying support below. This also indirectly confirms the effectiveness of the $80,000 support level. As a resistance level, $87,000 restricts the upward movement of BTC. The failure of this attempt to break through $89,000 indicates that selling pressure is relatively strong above this price level.
(2) Moving Average System
Although the short - term moving averages of BTC have turned downward to some extent due to price declines, the long - term moving averages still maintain an upward trend. This indicates that, in the long run, the upward trend of BTC has not been completely disrupted. Short - term price fluctuations may just be normal market adjustments. When the short - term moving averages gradually recover and cross above the long - term moving averages again, a golden cross is expected to form, providing technical support for the upward movement of BTC.
(3) Technical Indicators
The Relative Strength Index (RSI) shows that BTC is currently in the oversold zone, which means there may be excessive selling in the market. Once market sentiment recovers, the price of BTC is expected to rebound. In addition, although the MACD indicator shows a bearish signal, the bearish momentum is gradually weakening, suggesting that the market may be on the verge of a reversal.
💎💎💎 BTC 💎💎💎
🎁 Buy@80500 - 81000
🎁 TP 83000 84000 85000
The market has been extremely volatile lately. If you can't figure out the market's direction, you'll only be a cash dispenser for others. If you also want to succeed，Follow the link below to get my daily strategy updates
(1) Support and Resistance Levels
BTC has formed a strong support level at $80,000. Judging from past market performances, this price level has successfully withstood selling pressure multiple times, demonstrating the market's recognition of its value at this price. When the price dropped to $82,000, a certain degree of rebound occurred, indicating the presence of buying support below. This also indirectly confirms the effectiveness of the $80,000 support level. As a resistance level, $87,000 restricts the upward movement of BTC. The failure of this attempt to break through $89,000 indicates that selling pressure is relatively strong above this price level.
(2) Moving Average System
Although the short - term moving averages of BTC have turned downward to some extent due to price declines, the long - term moving averages still maintain an upward trend. This indicates that, in the long run, the upward trend of BTC has not been completely disrupted. Short - term price fluctuations may just be normal market adjustments. When the short - term moving averages gradually recover and cross above the long - term moving averages again, a golden cross is expected to form, providing technical support for the upward movement of BTC.
(3) Technical Indicators
The Relative Strength Index (RSI) shows that BTC is currently in the oversold zone, which means there may be excessive selling in the market. Once market sentiment recovers, the price of BTC is expected to rebound. In addition, although the MACD indicator shows a bearish signal, the bearish momentum is gradually weakening, suggesting that the market may be on the verge of a reversal.
💎💎💎 BTC 💎💎💎
🎁 Buy@80500 - 81000
🎁 TP 83000 84000 85000
The market has been extremely volatile lately. If you can't figure out the market's direction, you'll only be a cash dispenser for others. If you also want to succeed，Follow the link below to get my daily strategy updates
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.