Technical analysis by sxaix1 about Symbol BTC: Buy recommendation (5/10/2024)

Yesterday I said that if the Bitcoin price breaks through 61800, the downward trend may be reversed in the short term. Yesterday the price broke through 61800 and then fell back to 61800 and continued to rise. The highest point was close to 63900. The price is currently correcting. Judging from the 60-minute chart, the price has stood above the 20-day and 50-day moving averages. In addition, the MACD value is above the 0 midline. Because the price upward trend has formed in the short term, selling is not recommended. You can focus on the resistance range of 62680-63000. If the price falls back to this range, you can buy, with the target of 64000-64300 and stop loss of 62400. I will update the specific trading strategies at any time in my guidance groupComment: At present, the rise of Bitcoin is weak. Pay close attention to whether the price will fall below the 62680 resistance level. If the price falls below 62680, it is not recommended to buy for the time being.