The current price of Bitcoin BTC at the time of writing is $64,703.71.

Technical analysis on different timeframes:

Hourly timeframe

- Moving averages (MA):

- MA (50): The price is above the 50-hour MA, indicating a short-term uptrend.

- MA (200): The price is above the 200-hour MA, confirming a strong uptrend.

- Relative Strength Index (RSI): Around 60, indicating moderate bullish momentum.

- MACD: The MACD line is above the signal line, indicating potential for further growth.

- Support and resistance levels:

- Support: $63,500

- Resistance: $65,500

Daily timeframe

- Moving averages (MA):

- MA (50): The price is well above the 50-day MA, supporting the bullish trend.

- MA (200): The price is also above the 200-day MA, which confirms the long-term uptrend.

- Relative Strength Index (RSI): Around 65, indicating strong bullish momentum, but still below the overbought zone.

- MACD: Positive, with a widening gap between the MACD line and the signal line.

- Bollinger Bands: Price moves towards the upper band, indicating higher volatility and potential for growth.

- Support and resistance levels:

- Support: $62,000

- Resistance: $67,000

Weekly timeframe

- Moving averages (MA):

- MA (50): Strong uptrend as the price is well above the 50-week MA.

- MA (200): The price is well above the 200-week MA, indicating a long-term bullish trend.

- Relative Strength Index (RSI): Around 70, indicating strong bullish momentum and approaching overbought territory.

- MACD: The MACD line is above the signal line, which confirms the bullish trend.

- Support and resistance levels:

- Support: $60,000

- Resistance: $70,000

Recommendations for traders and investors

Short-term traders (hourly time frame)

- Breakout trading: If the price breaks the resistance level of $65,500, this could be a signal to open long positions with targets in the area of ​​$66,500-$67,000.

- Setting Stop Loss: Place stop losses slightly below the $63,500 support level to minimize risk from adverse market movements.

- Monitor RSI and MACD: Consider overbought or oversold signals for precise entry and exit of positions.

Medium-term traders and investors (daily timeframe)

- Support and Resistance: Expect movements between the $62,000 support and $67,000 resistance levels. These levels can be used to enter positions on pullbacks and take profits.

- MACD Divergences: Pay attention to possible MACD divergences to detect trend changes early.

- Long-term uptrend: Support above the 200-day MA confirms the sustainability of the uptrend, which may justify long-term investment.

Long-term investors (weekly timeframe)

- Holding Positions: Given the strong bullish trend on the weekly timeframe, continue to hold positions as long as the price remains above key support levels.

- Portfolio Diversification: Consider diversifying your investments to reduce the risks associated with crypto market volatility.

- Fundamentals: Keep an eye on macroeconomic and geopolitical news that may impact the cryptocurrency market.

Conclusion

Bitcoin is showing a strong uptrend on all timeframes. Moderate RSI values ​​and a positive MACD indicate the possibility of further growth. It is important to monitor key support and resistance levels to determine entry and exit points. Traders and investors should consider their time horizons and appropriate strategies to maximize profits and minimize risks.