According to my analysis of the BTC/USDT 4-hour K-line, the market is currently showing a relatively strong upward trend, but it may face adjustment pressure in the short term. The price is currently around $67,726, having previously climbed from a low of $58,935 to a high of $68,422. Such a strong rebound has brought significant profits in a short period of time, so the callback pressure in the short term is worth noting.
From a technical perspective, multiple moving averages are arranged in a bullish position, with EMA5, EMA10, EMA20 and other moving averages all pointing upward in sequence, which shows that the overall bullish sentiment in the market is strong and the trend is not over yet. However, I found that the DIF line and DEA line of the MACD indicator are gradually flattening, indicating that the upward momentum may be weakening. If the bulls cannot quickly increase their volume to break through the upper resistance level of $68,400, the market may undergo a correction.
Judging from the trading volume, the trading volume of the recent K-lines has not increased significantly, which means that the market sentiment is biased towards wait-and-see. If the resistance level of $68,400 cannot be effectively broken in the next few hours or day, BTC may fall back to $67,000, or even find support near $65,000.
Therefore, my point of view is that the market may have some correction pressure in the short term. It is recommended that bulls be cautious about chasing high prices and wait patiently for the price to stabilize near the support level before making entry decisions. Short sellers can pay attention to the price performance near the resistance level and look for short selling opportunities.
