#BTC
4-hour cycle price trend:
1. Overall Analysis
Recent prices have shown an overall upward trend, but there has been recent volatility, indicating that the market is in a digestion phase with low trading volume, reflecting a wait-and-see state. Currently, both the short-term moving average (MA7) and the long-term moving average (MA30) indicate a bullish trend, and the candlestick patterns exhibit strong buying power.
In the short term, despite the current strong market performance, recent volatility and low trading volume may signal a consolidation phase in the near term, posing a risk of corrections. Prices may consolidate around MA7, and attention should be paid to the doji star and top/bottom formation signals on April 13, as there may still be fluctuations in the short term.
Recommendation: The overall market trend remains upward; therefore, it is not advisable to chase after high prices. When the market enters a consolidation phase, it is recommended to maintain a wait-and-see approach, and make further decisions after the market clarifies its direction. Focus on the trends of MA7 and MA30, as well as changes in trading volume as a basis for further trend identification. Resistance level at 86100.00 and support level at 74508.00 can be monitored as key points, and set stop-loss levels near the support level to manage risks.
2. Technical Analysis
Candlestick Patterns: The doji star at 16:00 on April 13 indicates a potential reversal or consolidation, while the current solid bullish candlestick shows strong buying power.
Volume: Recent trading volume is at a low level, with reduced market volatility, indicating a wait-and-see state among buyers and sellers.
MA: The short-term (7-day) and long-term (30-day) moving averages continue to rise, with prices above the moving averages indicating a strong upward trend.
3. Potential Buy/Sell Points
Buy Point: 84800 USDT (close to the MA(7-day) moving average support level, and the current candlestick shows strong buying power, suggesting a potential continuation of the upward trend)
Long Stop Loss Point: 84000 USDT (if the price breaks below the MA(7-day) support area, it may trigger further declines)
Sell Point: 86100 USDT (close to the previous high resistance level, the market may experience selling pressure adjustment here)
Short Stop Loss Point: 86500 USDT (breaking above the previous high resistance indicates the continuation of the bullish trend, triggering a stop loss)
Follow me just to gain followers, comment 168 up !!!
