$BTC

Trend Analysis

1. Long-Term Trend (Several Months):

Overall Uptrend: The chart clearly displays a long-term upward trend, starting from late 2023 and continuing into 2025. This is characterized by a series of higher highs and higher lows.

Bullish Channel: Price appears to be moving within a wide, ascending channel (indicated by the yellow lines I've added to the image below). This suggests a sustained, healthy uptrend.

2. Mid-Term Trend (Several Weeks to Months):

Pullback and Consolidation: We can see a significant pullback (decline in price) starting around late March 2024, interrupting the long-term uptrend. This pullback found support around the $25,000-$27,000 zone.

Recovery: Following the pullback, Bitcoin began a recovery, breaking above the downtrend line from the March highs (as indicated by the green line I've added). This suggests renewed bullish momentum.

3. Short-Term Trend (Days to Weeks):

Recent Surge: The most recent price action shows a sharp surge from around $29,000 to the current price near $32,000. This is a clear short-term bullish move.

Potential Overbought Conditions: The CCI is approaching +100, which could indicate short-term overbought conditions. This warrants caution for potential consolidation or a minor pullback.

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Trading cryptocurrencies

involves significant risk, and you should conduct your own research and consult with a financial advisor before making any investment decisions.