To analyze and score Bitcoin (BTC) in detail, we will use technical and market factors according to important criteria. Each criterion will be rated on a scale of 10, then the total score will be calculated to have a comprehensive view of Bitcoin's current position.
1. Market Trend
• Description: Bitcoin is still in an uptrend, especially after gaining nearly 1.9% in the past 24 hours. However, BTC is trading below its ATH, suggesting that there may still be room for further upside.
• Score: 8/10
2. Volume
• Description: With a trading volume of nearly $25.9 billion in the last 24 hours, BTC shows strong appeal from the market. This large volume supports the upward momentum, indicating that investors remain highly interested.
• Score: 9/10
3. Momentum
• Description: BTC's current RSI indicator has not yet reached the overbought threshold, indicating that the upward momentum still has room to maintain without facing too much selling pressure. However, it is important to watch if the RSI rises sharply above 70 to avoid adjustment risks.
• Score: 8/10
4. Support & Resistance
• Description: BTC is trading near a strong resistance level at ATH $73,738. Breaking through this level will open up the possibility of reaching new highs. For support, BTC has a stable base around $65,000, ensuring the upward momentum is not easily broken.
• Score: 8/10
5. Candlestick Patterns
• Description: Recent bullish candles show strong buying power; if additional bullish candle patterns like “engulfing” or “morning star” appear, BTC could continue its upward trend. The current candle supports the bullish trend well.
• Score: 8/10
6. Market Sentiment & Fund Flow
• Description: Positive sentiment with fund inflows from both institutional and individual investors. FOMO sentiment has begun to appear, especially as BTC approaches ATH levels, which will help maintain momentum for the upward trend.
• Score: 9/10
7. Key Technical Indicators
• Description: Technical indicators like MACD and moving averages (SMA, EMA) are currently in the positive zone. BTC price is above key moving averages, indicating a solid upward trend.
• Score: 9/10
Summary and Evaluation
Criteria Score
Market Trend 8
Trading Volume 9
Momentum Strength 8
Resistance and Support 8
Candlestick Analysis 8
Market Sentiment & Fund Flow 9
Key Technical Indicators 9
Total Score 59/70
Conclusion
• Total Score: 59/70
• Ranking: 84.3% - Positive Trend
Bitcoin is in a positive position and has the potential to continue rising. If BTC breaks through the resistance at $73,738 with sustained strong trading volume, it could set the stage for a new growth phase. However, it is important to monitor momentum indicators and market sentiment, as prices near historical highs may attract profit-taking.
