The price of Bitcoin is attempting to break the $60,000 resistance level after more than a week of ranging. The overall trend of Bitcoin price in the day is still a high-level volatility pattern. The price in the day reached the highest level of $58,619 and then fell under pressure. The current price is running near $58,400. The market outlook is expected to continue to fluctuate.
From the 4-hour chart, the Bollinger Bands trend is currently flat, and the 60-day moving average is currently suppressing the price sideways near $58,200. Intraday prices are also under pressure after repeatedly breaking this line. The market outlook still needs continuous attention. The 5-day moving average is currently trading sideways near $57,950. On the whole, the current trend of bitcoin prices is still a range of fluctuations. The market outlook strategy is to maintain high shorts within the range and long lows. The top focus is on the suppression of the $58,200-$58,400 area, and the bottom focus is on the support at the $57,200-$57,000 position.
The price of Ethereum is also a pattern of high volatility in the day. Although the price has been a pattern of volatility and increase recently, the suppression near $2,100 above is still strong. The price of the day will rise and touch this line. It will also fall under pressure. It is still not recommended to blindly chase high, the strategy of choosing a callback with multiple orders will be more secure.
DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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