$BTC CryptoCircle LiYing: Bitcoin (BTC) bullish breakout on the 2-hour chart, aiming for 70,000! Latest market analysis and trading suggestions

Everyone! Bitcoin has shown a strong breakout on the 2-hour timeframe! The price broke above the upper Bollinger Band at 69,269 with a large bullish candle, and is now above the MA7 at 68,514 and MA30 at 67,642. The MACD has formed a golden cross above the zero line, with red momentum bars continuing to grow, officially signaling a bullish reversal! However, the previous high resistance at 70,000-71,000 is still looming, so caution is needed for a short-term pullback after overbought conditions. The Bollinger Bands have broken above the upper band, with the gap between the upper and lower bands widening from contraction to expansion. The price broke through the upper band with a large bullish candle, indicating short-term bullish strength is dominant.

Currently, the price is at 68,807, just below the upper Bollinger Band. If it can stabilize above the band, it will open up space for upward movement toward 70,000-71,000. Short-term moving averages: MA7 at 68,514 has crossed above MA30 at 67,642, forming a golden cross, and the moving averages are diverging upward, providing support for the price. The medium-term MA120 at 68,400.75 is close to the current price, forming a strong short-term support. If the pullback does not break this level, the bullish trend will continue. The MACD indicator's DIF has crossed above DEA, forming a golden cross above zero, with red momentum bars continuing to grow, indicating that bearish momentum has been completely exhausted and a bullish reversal is clear.

Short-term trading strategy (LiYing's expert guidance, precise market alignment):

Long position: 68,600 to 68,200, target 70,000 aiming for 71,000, stop loss 68,000
Short position: 69,300 to 69,700, target 68,500 aiming for 68,000, stop loss 69,900

LiYing's message: The crypto market is full of opportunities; what’s missing is the eye to see through the essence and the discipline to execute strictly. Stay calm, and you will smile last!

Risk warning: The above analysis by LiYing is based on real-time market data and is for reference only. It does not constitute investment advice. Trading risks are your own responsibility. ‌#加密市场普遍上涨