Will the bull market continue? Bitcoin focuses on the death line of 115,000!
Since the beginning of July, BTC has been steadily climbing along the 7-day moving average, and the 30-day moving average has also supported the base early on. This bullish arrangement is precisely a classic signal of a bull market surge, isn't it?
The MACD indicator has added fuel to the fire: DIF and DEA are diverging above the zero axis, and the red bars keep climbing higher, with momentum so abundant it seems ready to overflow!
But don’t just cheer; the current price has already surged near the previous high of 118,869 dollars. The Bollinger Bands are subtly revealing clues: the current price is close to the upper band of 120,345, while the RSI three lines have collectively entered the overbought warning zone. The KDJ’s K and D values are both stuck at a high level of 85, showing signs of fatigue… Are these signals not enough to prove that short-term risks are accumulating?
Currently, although BTC's trend is strong, a pullback and consolidation might be just around the corner. The market won't just go up without a drop, especially with such a rapid rise; once profit-taking hits, the volatility will at least start from a thousand points!
The medium-term upward logic remains intact, but chasing highs in the short term is akin to licking blood off a knife's edge! Pay close attention to the key support level of 115,000; if it holds, there could be new highs; if it doesn't, be prepared for a 10% psychological pullback...
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