#Gate广场五月交易分享 Bitcoin Price Trend Analysis Today
Bitcoin has once again risen above 780, with the trend shifting from weak to strong. Before the interest rate announcement, the previous high was around 782, which was broken to reach 790. Meanwhile, 790 is a slightly strong resistance level that won't be easily broken, and as it approached, a pullback occurred, followed by consolidation. Although it did not break 790 last night, based on the current closing, the daily chart still shows a high position, so the bulls will continue to test the resistance above. If it pushes above 790, the 80k integer mark will be within reach.
Overall trend structure shows that recently, the daily chart has been in an upward parallel channel, but on the day the Federal Reserve announced, it fell out of the upward channel. It has now rebounded to a high level, even breaking higher. Although there is still significant selling pressure above, market sentiment is high, and capital inflow continues. This is the third upward attempt, and the third wave is the most promising, with a break above 8.2 to 8.5. If all three attempts fail to break through, the trend will turn weak, possibly dropping to 7.2 or 6.8. Currently, the possibility of breaking upward is higher. Pullbacks are considered buying opportunities.
Near 780 to 776, look for 8.05 to 8.15.
Share and discuss, no investment advice provided!!!
Bitcoin has once again risen above 780, with the trend shifting from weak to strong. Before the interest rate announcement, the previous high was around 782, which was broken to reach 790. Meanwhile, 790 is a slightly strong resistance level that won't be easily broken, and as it approached, a pullback occurred, followed by consolidation. Although it did not break 790 last night, based on the current closing, the daily chart still shows a high position, so the bulls will continue to test the resistance above. If it pushes above 790, the 80k integer mark will be within reach.
Overall trend structure shows that recently, the daily chart has been in an upward parallel channel, but on the day the Federal Reserve announced, it fell out of the upward channel. It has now rebounded to a high level, even breaking higher. Although there is still significant selling pressure above, market sentiment is high, and capital inflow continues. This is the third upward attempt, and the third wave is the most promising, with a break above 8.2 to 8.5. If all three attempts fail to break through, the trend will turn weak, possibly dropping to 7.2 or 6.8. Currently, the possibility of breaking upward is higher. Pullbacks are considered buying opportunities.
Near 780 to 776, look for 8.05 to 8.15.
Share and discuss, no investment advice provided!!!
