Bitcoin has returned to the top of $80,000, having rebounded from $63,000 to $64,000. According to the external media review article, it is not short-line fluctuations that are of greater concern at this time, but a 365-day average of approximately $83,000, a position that may determine whether the current round of repairs can continue.

There's a resistance around $83,000.

According to the article, Bitcoin has recently re-established several dailies and recovered a long-term trend line around US$ 71,850. According to CryptoQant estimates, the 365-day average is currently about US$ 83,057, not far from current prices.

This position was of interest because Bitcoin had not been able to return to its top after having previously fallen the average annual price. According to the article, if this level is recovered, it will be more important than to break the general short-term resistance, which is closer to the threshold of whether the medium- to long-term trends have been repaired.

RSI up, short-line down risk still.

The article also mentions that the bitcoin day line RSI has risen to about 83, indicating that the market has entered a higher over-purchase area. Plus the fact that the price has risen rapidly from about $64,000 to around $80,000, the middle is limited, and it is becoming more difficult to keep the short line going directly.

Against this background, the market is more likely to be in a cooling phase if there is a visible outcrystal in the vicinity of $83,000. The article gives a range of between US$ 76,000 and US$ 78,000 and considers that this adjustment does not necessarily destroy the current biased structure.

Stand steady or fail to match different trends

  • If the solar line breaks, $83,000 and stands steady, moves or continues upwards.
  • If blocked at this location, the short line could fall back to $76,000 to $78,000
  • If you fall again about $71,800 to support, market or retest the 60,000.

According to the article, the most difficult rehabilitation phase of the previous period had largely been completed, but the 365-day average remained the most important observation point at present. Whether or not this level can be exceeded will affect whether this round of rebound continues to expand or is first carried over for processing.