Bitcoin aims at $70,000?

With the return of the main force, Trump's assassination, and reduced market selling, the price of Bitcoin quickly broke through $60,000, and the selling pressure from large holders such as the German government weakened, and the market may soon hit $65,000. Currently, the price of Bitcoin is $64,676.8, an increase of about 5.55%. Bitcoin has a strong upward momentum due to reduced selling and shifting market sentiment.

Bitcoin has broken through multiple important resistance levels, showing a bullish trend. The current price is above the 50 EMA ($64,027) and 100 EMA ($62,580). The psychological barrier of $65,000 is the next important target, and breaking through this position may bring more gains.

Reduced selling by large holders and on-chain data support this bullish view. The increase in trading volume shows that the market's interest and activity in Bitcoin are also increasing. However, there are still risks in the market, and if there is a huge sell-off, it may prevent the price from continuing to rise.

Day Trading Strategy

Long Strategy:

Entry Point: If BTC breaks through $64,936.1, you can buy around $65,000 with a target price of $70,000.

Stop Loss Point: Set below $63,500 to prevent unexpected declines.

Short Strategy:

Entry Point: If BTC fails to break through $65,000 and falls back below the middle track of the Bollinger Band ($63,316), you can sell around $63,300 with a target price of $60,000.

Stop Loss Point: Set above $65,000 to prevent a market reversal.

Watch Points:

Support: $64,027 (50 EMA)

Resistance: $65,000

RSI Indicator: Pay close attention to RSI. If RSI continues to be overbought, the market may pull back. Increased volume may indicate a continuation of the trend, while a decrease may indicate a weakening trend.

Bitcoin is currently in a strong upward phase, but be aware of short-term overbought risks. Carry out intraday trading according to the above strategies, flexibly adjust positions, and stop profits and losses in time.

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