The price of Bitcoin (BTC) has recently shown a short-term pump, with the 15-minute Candlestick Chart indicating that the BTC price has slightly risen to around $104,990. Although the short-term moving average trend is favorable, the Trading Volume is only slightly over 1,000, such a sluggish volume raises concerns about the sustainability of this rally.
Investors should closely monitor the previous high around $106,000, which is a key resistance level. If BTC can break through and maintain this position, it may open up new upward space. However, if it fails to break through, the support level around $104,700 (referencing the 30-period moving average) will become an important threshold to maintain the upward trend. Furthermore, the area around $99,500 will be a larger defensive position.
Overall, although the BTC price is likely to continue testing upward during the day, investors should remain vigilant, as this rise is only more convincing and sustainable if the trading volume significantly increases. The current market situation is complex and volatile, and investors need to stay cautious and closely monitor various technical indicators and market trends to make informed investment decisions.
It is worth noting that the cryptocurrency market has always been volatile, and investors should invest rationally on the basis of fully understanding the risks, and do not blindly chase higher or panic sell. At the same time, it is also necessary to pay attention to the potential impact of factors such as the global macroeconomic situation and regulatory policy changes on the cryptocurrency market.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
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CryptoDouble-O-Seven
· 11h ago
The trading volume can't be pumped up, it's really a bit虚!
The price of Bitcoin (BTC) has recently shown a short-term pump, with the 15-minute Candlestick Chart indicating that the BTC price has slightly risen to around $104,990. Although the short-term moving average trend is favorable, the Trading Volume is only slightly over 1,000, such a sluggish volume raises concerns about the sustainability of this rally.
Investors should closely monitor the previous high around $106,000, which is a key resistance level. If BTC can break through and maintain this position, it may open up new upward space. However, if it fails to break through, the support level around $104,700 (referencing the 30-period moving average) will become an important threshold to maintain the upward trend. Furthermore, the area around $99,500 will be a larger defensive position.
Overall, although the BTC price is likely to continue testing upward during the day, investors should remain vigilant, as this rise is only more convincing and sustainable if the trading volume significantly increases. The current market situation is complex and volatile, and investors need to stay cautious and closely monitor various technical indicators and market trends to make informed investment decisions.
It is worth noting that the cryptocurrency market has always been volatile, and investors should invest rationally on the basis of fully understanding the risks, and do not blindly chase higher or panic sell. At the same time, it is also necessary to pay attention to the potential impact of factors such as the global macroeconomic situation and regulatory policy changes on the cryptocurrency market.