Market Analysis: BTC/USDT

The current BTC price is fluctuating around $72,260.56. In the short term, BTC has encountered some selling pressure after a strong rally, with the price retreating after reaching a high of $73,620. It remains to be seen whether this is a false breakout; we can make further judgments based on technical indicators and key levels.

Technical Analysis

Moving Averages: The short-term moving average MA7 (69,032) continues to provide support from below, while MA25 (66,252) further underpins, indicating that the upward trend has not completely changed, but the resistance above should not be ignored.

RSI: RSI(6) is already in the overbought zone above 80, suggesting a potential need for a pullback in the short term.

Volume: The volume has increased alongside the rally, but recent volume has been notably high, indicating a possible need for consolidation in the short term.

Trading Recommendations

Long Strategy

Entry Point: If the price retraces to the range of 69,000-69,500, consider opening a small long position, utilizing moving average support for a short-term rebound.

Take Profit Target: The first target is set at 73,500, and if broken, look towards 75,000.

Stop Loss Level: Keep it below 68,500; if it drops below this level, it may indicate a deeper short-term pullback, so cut losses in time.

Short Strategy

Entry Point: Currently, the price in the range of 72,000-73,000 can be a point for a small short position, as there is a risk of a pullback in overbought conditions.

Take Profit Target: In the short term, look at 70,500; for further declines, keep an eye on 68,500.

Stop Loss Level: It is recommended to set it above 73,800 to prevent excessive losses from sudden rallies. #BinanceBlockchainWeek #狗狗币创数月新高 #下一BTC历史新高是多少？ #美国职位空缺降至3年来最低水平

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