📣 Creators, Exciting News!
Gate Square Certified Creator Application Is Now Live!
How to apply:
1️⃣ Open App → Tap [Square] at the bottom → Click your avatar in the top right
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Note: You need to update App to version 7.25.0 or above to apply.
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The latest market data shows that the price of Bitcoin has broken through an important technical threshold. Specifically, it has successfully surpassed the daily chart EMA7 moving average ($110,050) and the 4-hour EMA52 moving average ($110,600).
Currently, the market focus has shifted to the next potential resistance levels: the 6-hour EMA52 moving average ($112,025) and the 12-hour EMA30 moving average ($112,404). It is worth noting that a rebound trend is forming on the 12-hour and daily chart.
If this momentum continues, Bitcoin may challenge higher resistance levels, including the daily chart EMA30 moving average (113,650 USD) and the EMA52 moving average (114,025 USD). Based on these technical indicators, analysts expect Bitcoin's short-term rebound target price to be around 114,000 USD.
However, investors should view this short-term rebound with caution. From tonight to tomorrow, these price levels may become potential shorting points. Market participants should closely monitor the performance of these key price levels, as well as changes in overall market sentiment.
Overall, although Bitcoin shows short-term upward momentum, investors still need to remain vigilant, closely monitor market trends, and manage risks effectively.