Storm again in the crypto market! On the BTC/JPY pair, the 1-hour chart shows a strong and nearly straight upward (parabolic) green candle.
Key market statistics (latest update):
Current price: 13,501,364 JPY (in Bangladeshi currency, approximately 1,05,16,969.27 taka)
📈 24-hour change: a massive +6.08%!
24-hour Maximum (High): 13,582,418 JPY
📉 24-hour Minimum (Low): 12,636,428 JPY
Technical chart analysis (1-hour timeframe):
Bullish breakout: It’s clearly visible on the chart that the price jumped from 12,839,285 JPY to 13,501,364 JPY within just 1 hour. The candle’s own growth rate is +2.34%.
Volume support: Behind this sudden surge is massive trading volume. If you look at the volume bars below the chart, you’ll see that in this 1 hour a huge 563.12M JPY worth of volume entered the crypto market.
Moving Averages (MA): The price is currently well above MA(7) [12,840,461], MA(25) [12,723,145], and MA(99) [12,498,732], indicating a very strong short-term uptrend or bullish momentum.
Next steps / Market outlook:
After this kind of steep or parabolic growth, the market usually sees some profit booking or a small correction (cool down). For traders, the next support zone may be near 13,100,000 to 12,840,000 JPY.
How did today’s move affect your crypto portfolio? Let us know in the comments!👇
#Bitcoin #BTCJPY #TechnicalAnalysis #CryptoMarket #Binance
⚠️ Warning: The crypto market is extremely risky and prone to fluctuations. Before making any investment, be sure to verify thoroughly yourself and analyze the market.