1: Weekly time frame: Connect the high points to form a descending channel by connecting the low points. Last resistance level: Near the upper boundary of the descending channel, which is the trend line, at 70800. Bollinger Bands' middle band price is at 65500, pay attention to the closing of the weekly time frame tomorrow morning at 8. MACD line is flat, column chart is rising, RSI indicator is forming a double bottom in the oversold zone. Second: Daily time zone: (1) On the daily chart, a downward channel formed on July 5th with a drop below 54,000, followed by a V-shaped reversal and a big V-rise for half a month, and now prices are around 67,000. (2)In terms of indicator lines, prior to the 120-day average, strong RESISTANCE, when prices were around 65000, the RESISTANCE has now turned into support as the 120-day average has been exceeded, and strong support has been set at 65000. Currently, Candlestick prices are quite close to the long-term 120-day average line, but quite far from the medium-term 30-day average line, so Side needs a shaky wait, thus gathering strength and becoming more advantageous for long positions. Three: 4-hour time zone: On the 4-hour chart, after breaking the consolidation triangle formation, it pulled back without falling below the 66000 level, and the correction is continuing at higher levels. Resistance on the upper side is at the 67600 level. Summary: Although the movements seen on the weekly and daily charts are quite strong, the scenario with the highest probability is a horizontal correction at high levels because those who entered at high prices are mostly in long positions. The 65000 level is quite critical and as long as it is not broken, opportunities will continue for long positions, but if this level is breached, a downward trend may begin and prices may pull back to around 61000. Short-term support is in the range of 66000-65000 and short-term RESISTANCE is 67600.
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BTC analysis:
1: Weekly time frame: Connect the high points to form a descending channel by connecting the low points. Last resistance level: Near the upper boundary of the descending channel, which is the trend line, at 70800. Bollinger Bands' middle band price is at 65500, pay attention to the closing of the weekly time frame tomorrow morning at 8. MACD line is flat, column chart is rising, RSI indicator is forming a double bottom in the oversold zone.
Second: Daily time zone:
(1) On the daily chart, a downward channel formed on July 5th with a drop below 54,000, followed by a V-shaped reversal and a big V-rise for half a month, and now prices are around 67,000.
(2)In terms of indicator lines, prior to the 120-day average, strong RESISTANCE, when prices were around 65000, the RESISTANCE has now turned into support as the 120-day average has been exceeded, and strong support has been set at 65000. Currently, Candlestick prices are quite close to the long-term 120-day average line, but quite far from the medium-term 30-day average line, so Side needs a shaky wait, thus gathering strength and becoming more advantageous for long positions.
Three: 4-hour time zone:
On the 4-hour chart, after breaking the consolidation triangle formation, it pulled back without falling below the 66000 level, and the correction is continuing at higher levels. Resistance on the upper side is at the 67600 level.
Summary: Although the movements seen on the weekly and daily charts are quite strong, the scenario with the highest probability is a horizontal correction at high levels because those who entered at high prices are mostly in long positions. The 65000 level is quite critical and as long as it is not broken, opportunities will continue for long positions, but if this level is breached, a downward trend may begin and prices may pull back to around 61000. Short-term support is in the range of 66000-65000 and short-term RESISTANCE is 67600.