#BTC $BTC
Recent price performance has been strong, showing an overall upward trend, particularly with a noticeable rise in price over the last few cycles.
In the short term, the market is in a strong upward trend, and the price may encounter some resistance at the key resistance level of 107114.3, but support is strong, and short-term momentum is sufficient, indicating that it may continue to test upward. Caution is warranted for potential short-term overbought conditions that may arise after the price breaks through the upper Bollinger Band.
Technical Analysis
Candlestick Pattern: The red three soldiers pattern shows strong short-term upward momentum, the morning star pattern suggests a possible trend reversal, and the spinning top pattern indicates significant market volatility.
BOLL: The current price has broken through and is maintaining near the upper band, indicating a strong market with potential for further upward movement, while the expansion of the lower band requires caution regarding increased market volatility.
EMA: The short-term moving average is above the long-term moving average, and the widening distance indicates strong market momentum, with consecutive bullish candles confirming the strong performance.
MA: MA(15) and MA(5) form a golden cross, suggesting an upward trend in the market in the medium to short term, and the current price being above the moving average indicates strong market momentum.
MACD: A golden cross on the 4-hour chart indicates a strong bullish trend.
Signal: Also a bullish trend.
Support: 103000
Resistance: 107000
