The recent market trends are quite interesting, like kicking a ball back and forth. As long as you're willing to catch it, it can give you a bite of meat. Those with keen eyes know that the current price of the currency around 101,000 points is a support level, whether it's an ancient support point, the psychological effect of the 110,000 resistance barrier, or even the position of the trend line at this stage. For such fluctuating market conditions, even if an initial break occurs, you can't fully trust it. It's a clear washout market; even if it breaks, don't rush to shout. Use calm to control action. If you really can't grasp this pace, it's better to wait until it shows a clear direction before trading. After all, some people like to catch fluctuations, while others prefer to follow trends. If you're shorting, you've definitely been caught by this rebound; otherwise, you should go with the market and do long trades, planning new trades after a break. The current trend continues to rise; once it breaks the resistance level of 109,600 USD (historical high), the next step is still to look at the 110,000 barrier and the 120,000 mark as expected.
From a technical analysis perspective, Bitcoin has formed an upward channel since the end of April, with each breakthrough showing an upward trend, indicating that bullish momentum remains strong. Recent candlestick charts show continuous bullish candles, with bullish forces dominating in the short term, but the market may also face overbought pressure, especially since it is approaching historical high points. Many buyers at this position may choose to sell or wait to see if they should continue buying; the MACD line continues to diverge above the zero axis, indicating that the short-term bullish momentum still exists, but beware of divergence signals; the RSI value is above 60 and has not entered the overbought region, but shows strong upward momentum. The short-term EMA7 and EMA30 are both running upward, and the price is above these moving averages, supporting the current upward trend. The EMA120 has also begun to flatten and shows signs of turning upward. Therefore, in recent operations, it is suggested that the main trend still focuses on buying on dips, while short positions can be taken at high levels for short-term gains, but be careful not to linger too much in short trades.
From a technical analysis perspective, Bitcoin has formed an upward channel since the end of April, with each breakthrough showing an upward trend, indicating that bullish momentum remains strong. Recent candlestick charts show continuous bullish candles, with bullish forces dominating in the short term, but the market may also face overbought pressure, especially since it is approaching historical high points. Many buyers at this position may choose to sell or wait to see if they should continue buying; the MACD line continues to diverge above the zero axis, indicating that the short-term bullish momentum still exists, but beware of divergence signals; the RSI value is above 60 and has not entered the overbought region, but shows strong upward momentum. The short-term EMA7 and EMA30 are both running upward, and the price is above these moving averages, supporting the current upward trend. The EMA120 has also begun to flatten and shows signs of turning upward. Therefore, in recent operations, it is suggested that the main trend still focuses on buying on dips, while short positions can be taken at high levels for short-term gains, but be careful not to linger too much in short trades.
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