Here are some important points to understand and seek profit with
$BTC 1. Trend Identification
⢠Bitcoin is in a short-term downtrend, as the candles are below the 7, 25, and 99-period moving averages.
⢠The price reached a recent low of 76,606 USDT but has already recovered to 82,849 USDT.
2. Moving Averages (MA) and Support/Resistance
⢠Resistances:
⢠83,116 USDT (MA7)
⢠89,005 USDT (MA25)
⢠96,400 USDT (MA99)
⢠Supports:
⢠76,606 USDT (recent low)
⢠75,297 USDT (lower support)
If the price breaks resistances with strength and volume, it may continue to rise. If it loses support, it may fall further.
3. Volume and Market Sentiment
⢠The buying volume is at 88.76%, showing strong buying interest at the moment.
⢠However, in longer periods (7, 30, and 90 days), the volume has dropped significantly, which may indicate weakness in the long term.
4. Technical Indicators
⢠MACD and RSI are not visible in the image, but looking at the candles and volume, it seems that Bitcoin is trying to regain ground after a sharp decline.
5. How to Take Advantage?
⢠For a quick trade (short term):
⢠If BTC breaks 83,116 USDT with high volume, you can try to target 86,815 - 89,005 USDT.
⢠Set a stop below 81,000 USDT to avoid losses.
⢠For the long term:
⢠If you believe BTC will appreciate in the future, you can accumulate gradually (DCA strategy).
⢠If it drops to 76,000 - 78,000 USDT, it may be a good buying zone.
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