Analytics

BTC: Short And Mid-term Technical Indicators Keep On Rising

Bitcoin continues to surge today. It is still a new level compared to yesterday. It changed from $7,500 to $8,000 yesterday. Today it rose from $8,000 to $8,500, and it advances $500 points in turn. This speed is indeed amazing. When the market just reversed, I felt that 8k was very far away. At present, it seems that 10k is insight.

The rise of bitcoin in the morning is mainly due to the technical form and the deterioration of the situation in the United States and Iran. The technical form yesterday’s rise has opened up the long space. It must be said that the speed of rise has come quickly.

From the day chart, the price has closed for the 5th consecutive day. After the trend broke the upper position of the Bollinger Band , the bull sentiment rose accordingly, and the price went up. The current price continues to run above the upper Bollinger Band . The MA5 crosses the MA60 runs at the $7,794. The MACD double-line hook headed up, running near the 0 axis, and RSI and Stoch were overbought.

The 4-hour MACD is still stable to maintain the golden fork operation, and the KDJ and RSI are also maintained at a level of around 80. The MA5 and MA10 are also on the upward trend. At the 1-hour level, the market rebounded slightly after stepping back. A bit of a departure from the trend, the RSI indicator is running on the middle rail. In a comprehensive view, the market is running at a high level to maintain shocks, and it may break at any time.

Today’s operation strategy:
Long: $8,100-$8,150, target $8,300-$8,450, stop loss $7,980
Short: $8,400-$8,450, target: $8,200, stop loss $8,500

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