BTC 1-hour trend analysis
📈 1. Overall trend
Currently, BTC's trend is still strong, skyrocketing in a short period, even breaking the Vegas channel 576 moving average (the long-term moving average in white). This line is usually an important boundary between bulls and bears. Now that BTC has risen above it, it indicates a short-term bullish bias and there is still a chance to continue rising.
However, it has now reached around 87,000, where there is considerable pressure, and further upward movement may encounter selling pressure. If it cannot hold, there may be a pullback, and we need to see if 86,000 (576 moving average) can hold.
📊 2. What do the technical indicators say?
RSI indicator (overbought):
Currently, RSI is at a high level, and there is a signal of 'divergence at a high point,' which usually indicates that buying pressure is starting to weaken, and a pullback may occur at any time.
MACD indicator (momentum weakening):
The previous upward momentum was strong, but now the green bars are shrinking, and even red momentum starts to appear, which is a sign that it may not rise in the short term and could pull back.
📍 3. Key support & pressure
Upper pressure:
87,000: Short-term pressure, if broken, the next level may challenge 88,500-89,000.
87,500: If it can hold steady, it may push towards higher price levels.
Lower support:
86,000 (Vegas 576 moving average): This is a key support level, if it holds, the market still has a chance to rise.
85,000: If it breaks below 86,000, it may come here for support.
83,500-84,000: If it really drops to here, then the bullish momentum may need to take a break.
📌 4. Operational suggestions
Short-term traders:
87,000 here is short-term pressure, it is recommended to take partial profits and look for opportunities after a pullback.
If the price pulls back to 86,000 (576 moving average), you can observe the support strength, and consider entering after it stops falling.
Medium to long-term investors:
As long as BTC maintains above the 576 moving average (86,000), the overall trend remains bullish, and you can continue to hold.
If it breaks 87,500, there may be a larger rally, consider adding positions.
If it breaks below 86,000, caution is advised, it may test 85,000 or lower.
🎯 Conclusion
BTC's recent rally is a bit overheated, now approaching 87,000, there is short-term pressure and a chance of a pullback. The key is whether 86,000 (Vegas 576 moving average) can hold. If it holds, the market can continue to rise; but if it breaks, it may pull back to 85,000 or even lower.
For short-term, it is recommended to take partial profits and wait for a pullback to look for opportunities; for long-term, as long as 86,000 does not break, the bullish pattern remains, and you can continue to hold!
