BTC/USDT Analysis
Bitcoin (BTC) price against USDT is showing a slight uptrend on the 4-hour chart, currently trading at $61,010.16 with a +0.39% increase over the past 24 hours. Resistance is seen near the $61,400 level, while the nearest support is around $60,100.
The short-term moving averages (MA 7 and MA 25) are above the MA 99, indicating a possible bullish momentum. The 7-period moving average is at $60,716.44, outperforming the 25-period moving average at $59,978.12, which could suggest a near-term rally.
Trading volume has also shown a considerable increase, reaching 19,132.22 BTC over the past 24 hours, which could strengthen the bullish move if volume continues to rise.
We recommend keeping an eye on the mentioned support and resistance levels, and consider using risk management tools in your trading strategies. Stay informed and trade with caution!
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