BTC/USDT (Bitcoin to Tether) price action on Binance with a 4-hour time frame. Here's an analysis based on the chart:
1. **Current Price**: BTC is trading at 97,592 USDT with a slight positive movement of +0.07%.
2. **Trend**:
- The blue curved line indicates a parabolic uptrend, suggesting a potential increase in price until the curve is broken.
- However, a recent drop below the upper resistance zone indicates a correction from recent highs.
3. **Key Zones**:
- **Resistance Zone**: The price faced resistance around 99,000–100,000 USDT. BTC struggled to maintain above this level and dropped.
- **Support Zone**: Strong support lies around 94,000–95,000 USDT, where BTC previously bounced back.
4. **Price Action**:
- A breakdown occurred after BTC failed to sustain above resistance.
- The price is consolidating between the support and resistance zones, hinting at potential sideways movement unless volume increases.
5. **Indicators**:
- Watch for volume and confirmation if the price retests resistance or support.
- If the price breaks the parabolic curve to the downside, it may signal a trend reversal.