encryption asset panorama
BTC (1.64% | Current Price 121,248 USDT)
The BTC price has experienced a strong surge after a period of consolidation, currently breaking through the $121,200 mark and setting a new high of $121,260.3 in this round of increases. The short-term moving averages (MA5, MA10) have clearly turned upward and are in a bullish arrangement, with the price significantly above MA30, indicating ample short-term bullish momentum. The large bullish candlestick suggests a concentrated explosion of buying power, and if it can steadily stay above $121,000 in the short term, it is expected to maintain its upward trend. However, one should be cautious of short-term overbought conditions and the risk of profit-taking at high levels. If the price falls below $120,000 and trading volume decreases, a technical correction may occur to adjust the indicators. Overall, the trend leans towards strength, but chasing the market requires careful control of pace and risk.
In addition, on August 8, B