Short-term analysis (1-hour timeframe) of the $BTC /USDT
1. Price Action
Current Price: 107,389.48 USDT
24h Low: 106,800.00 USDT
(just recently hit)
Trend: Strong bearish candles with lower highs and lower lows confirm a clear downtrend.
A small wick and slight green candle at the bottom may indicate minor buying interest, but not enough for a reversal yet.
2. RSI (Relative Strength Index): 21.46
Oversold Territory <30:
RSI is deep in the oversold zone, suggesting that BTC is likely to see a short-term bounce or sideways consolidation soon.
However, prices can remain oversold in strong downtrends, so this is not a guaranteed reversal signal.
3. MACD:
MACD Line: -231.12
Signal Line: -533.65
Histogram: Deep red bars with continued downward slope.
This reflects strong bearish momentum and no signs of reversal in momentum yet.
4. Parabolic SAR:
Dots are above the candles, continuing to signal a downtrend.
No signs of reversal based on SAR alone.
5. Volume:
Volume looks slightly elevated on the most recent red candles, indicating capitulation pressure may be occurring.
Short-Term Outlook:
Bearish Bias Continues
All indicators (price structure, MACD, Parabolic SAR) are showing continued downside pressure.
RSI suggests a bounce is possible, but there’s no confirmation yet from price action or momentum indicators.
Possible Scenarios:
Bearish Continuation:
If BTC breaks below 106,800 support again with volume, it could test lower supports near 106,500 or below.
Short-term Rebound:
If RSI triggers a bounce, price could temporarily retrace toward 107,800–108,800 resistance zones. Watch for rejection or reversal signals there.
Conclusion:
Current Trend: Strongly bearish
Caution: Avoid aggressive long entries until a clear reversal or strong support hold
Potential Opportunity: Short-term bounce may occur due to RSI, but trend-following traders should wait for confirmation