Bitcoinwin: BTC is crazy again, can this wave break 60,000?

Bitcoinwin digital currency market shows that BTC first continued the upward trend in the day last night, reaching a maximum of 57380, and the trading volume increased significantly. This morning it fell slightly, and now it is basically near yesterday’s high point. The trading volume has not increased significantly, indicating that the short side is relatively weak. At present, judging from the daily line level, it has basically returned to the vicinity of the previous high point and is at an absolute high level.

Although Bitcoin has pulled back today, the general direction remains unchanged. Next, we still need to pay attention to the continuation of the rising market and the support of the 55,000 USDT line below. If we continue to increase in volume, we can still look forward to breaking through historical highs in the future.

A week ago, many people even thought that the bull market ended like this. 58300 may be the highest point in history, but the market started to rise sharply again after two weeks of shocks. Why is this? The following editor will help you sort out the logic of this wave of market take-off.

First of all, according to the news of the past week:

1. The U.S. House of Representatives passed a 1.9 trillion rescue bill;

2. Meitu announced the purchase of BTC and ETH as the company's strategic reserves;

3. TEDA continues to issue additional USDT;

4. Grayscale’s parent company repurchases Grayscale’s trust fund GBTC;

5. The asset management company gsc will launch an encryption fund.

Of course, the above are just some of the recent positives. The recent market conditions have also been catalyzed by these positive on-site and off-site, and a wave of big rebound has started. The currency price also pointed to the highest line in history in the early morning of this morning.

Next, let's take a look at the technical aspects:

On the daily line, the fourth consecutive positive line was closed yesterday. The double line of the MACD indicator formed a golden cross above the 0 axis. Pay attention to the closing shape of the K line and the increase or decrease in volume.

From the perspective of the 4-hour line, the moving averages of all levels are diverging upwards, the MACD fast and slow lines are about to form a cross above the 0 axis, the long energy column continues to decay, and the market remains running in the middle and upper rails of the Bollinger Bands. The long and short sides began to take over. And in the short term, there is a small up and down market, and the upward trend of the market has shown signs of pressure. A negative cross was closed in the last cycle, and the possibility of a market callback and shock in the next 24 hours will increase. In addition, the market volume is very obvious in the rising stage, while in the falling stage, the trading volume is significantly reduced.

On the whole, the market is under pressure at a high level, and the next 24h callback will be the main theme, but the general upward direction has not changed for the time being. In the next two days, we will focus on the situation of 55,000 sticking.

So can this wave of BTC surge break through the record high and hit the line of 60,000 US dollars?

At present, more and more institutions and high-net-worth investors are continuing to purchase BTC as long-term investment targets, which makes the number of BTC in the market constantly decreasing. The "scarcity" of Bitcoin is gradually becoming prominent, and the future price may be far away. It doesn't stop there. Then in the medium and long term, it is possible for the market to break through 60,000 or even higher. It's just that for the time being, the market has reached near the highest level in history at the technical level, and there has been a normal correction.

From a technical point of view, the pullback of today's market is completely predictable and understandable, and washing is healthier, which also prepares and paves the way for the next market to break through historical highs. During the market correction period, everyone also needs to increase risk awareness, reasonably control positions, and avoid risks.