Bitcoin price stabilizes at key support level - signal of rebound appears

Columns:Cryptocurrency Opinion and Analysis author:btczxw time:2024-08-29 22:15:53
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    Bitcoin price remains above the key support level of $58,500, and rebound signals are emerging

    比特币长期持有者净持仓变化

    1. Market Overview:


    - After a sharp sell-off, Bitcoin has stabilized above the key support level of $58,500. The previous round of rebound pushed it to $65,000.


    - Data shows that Bitcoin "long-term holders" have significantly increased their positions recently, while short-term traders have taken profits. This may explain the sharp sell-off of Bitcoin when it approaches the resistance level.


    - Technical analysis shows that Bitcoin is currently at a key support level, and the closing price trend will determine the future trend. Whether there will be a strong upward trend remains to be seen.

    BTC/USD-日线图

    2. Opportunities and Risks:


    - If Bitcoin closes above $58,500, it may indicate the resumption of a new round of rising patterns, with the next targets of $60,000 and $61,750.


    - But if it falls below $58,500, it may test lower support levels such as $56,561 or even $55,000.


    - The substantial increase in holdings by long-term holders shows that they remain confident in the prospects of Bitcoin, which may become an important factor supporting future price increases.


    In general, Bitcoin is currently at a critical position and its short-term trend deserves close attention. Investors need to balance risk and return and operate with caution.


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