Core battlefield: two key price levels!
2600 USD: marked in red on the chart, this is roughly the upper band of the BOLL line. If it breaks through, the sky is the limit!
2520 USD: important support, close to the middle band of the BOLL line. If it breaks, be careful of a rapid decline!
What do the technical indicators say?
BOLL line: middle band at 2538, upper band at 2587. The price has now broken out of the upper band; is it a sustained bullish move, or will it be pulled back into the channel for consolidation? This is key!
MACD: fast line above the slow line, red bars are still lengthening. This indicates a strong short-term bullish trend! But be cautious: a rapid rise can easily lead to 'top divergence', which is a trap!
ROC: 2.55 > 1.41, indeed a strong short-term momentum!
Overbought warning: marked as 'overbought' on the chart, a rapid rise in the short term needs a breather, a pullback for digestion is very normal.
Trading volume and main force direction:
Volume is crucial! When pushing to 2600, it must explode with massive volume for the breakout to be reliable! If the volume doesn't match? It's mostly a false breakout, a trap, and will pull back!
On-chain data didn't provide specific numbers, need to keep an eye on real-time data to see if the main force is really pushing or preparing to run.
Tonight's scenario prediction:
Scenario one: break through 2600! What do we need?
Firmly stand above 2587/2600 with volume! No dilly-dallying, the closing price must stand firm.
MACD, don't be timid! Fast line and slow line continue to diverge upwards, the red bars shouldn't shorten.
Bring some good news! For example, ETH ETF looks promising, or Bitcoin is leading the way.
Has it worked? Targeting the previous high of 2650-2660!
Scenario two: drop back to 2520! What could cause this?
Rising too fast, needs a breather! Check smaller time frames; if a long upper shadow or a large bearish engulfing appears, it's a pullback signal!
BOLL line attraction! The price can easily be pulled back by the middle band, 2520 is the last line of defense.
Market manipulators dumping! If on-chain data shows bulls are over-leveraged or large orders are secretly selling, the drop will be faster and fiercer!
How to operate? Keep a close watch on these!
Look at the small chart: keep a close watch on the 2587-2600 area! The closing price must hold for more than half an hour to be considered a true breakout!
MACD red bars: shortened or fast line turning down? Be careful! A pullback might be coming.
Trading volume: a breakout must come with volume! Not enough volume? Don't believe it!
Set a stop loss!
Brothers going long: set the stop loss at 2550, if it breaks, get out first.
Those looking to short on a pullback: the stop loss must be set at 2605.
Supplementing ammunition:
Check funding rates: is the negative rate too high? Be careful, the bulls might dump and run!
Watch the liquidation heatmap: see if there are a bunch of short orders waiting around 2520.
My personal judgment:
Tonight, it's more likely to make a push to test 2600! After all, the current momentum looks decent. But a short-term spike of 30 points is too much, even if it breaks through, it will likely pull back to confirm.
Key pullback points: 2550-2520! As long as it doesn't effectively break below 2520, the bullish trend remains!
What if it crashes through 2520 with volume? That's it, short-term outlook is bearish.
XCoin daily sharing, the team behind only serves ambitious lunatics, feeding you the 10x coin passwords directly.