Analysis of chart $BTC

Time frame: 1 week (1W)

Current price: 83.112 USDT (-3.66%)

24h volatility:

• Highest price: 86.500 USDT

• Lowest price: 82.223 USDT

1. Overall trend

• Short-term: The price is sharply decreasing with a large red candle, closing below the nearest support level (86.123 USDT).

• Medium-term: After reaching a peak of 109.588 USDT, BTC shows signs of strong correction, breaking down below MA10 (208.097 USDT) and approaching near MA5 (224.459 USDT).

• Long-term: Still in an uptrend as the 180-day increase (+46.26%) and 1-year increase (+22.04%) remain positive.

2. Support & resistance

• Resistance: 86.500 USDT (nearest peak), followed by 101.537 USDT.

• Support: 82.223 USDT (lowest of 24h), followed by the area around 70.708 USDT (long-term MA support).

3. Bollinger Bands (BOLL) indicator

• Price has fallen below the Middle Band (MB: 92.869 USDT), indicating strong downward momentum.

• Lower Band (55.294 USDT) could be a target if the downtrend continues.

4. Trading volume (Volume)

• Volume is increasing as the price decreases, indicating selling pressure is dominating.

• If the volume continues to remain high, the price may adjust further downwards.

5. Assessment & Trading strategy

• Short-term: If BTC breaks below the support of 82.223 USDT, it could drop to the area of 70.708 USDT. If reversal signals appear at support, a long position may be taken.

• Medium-term: If BTC bounces from the support of 82.223 USDT, a recovery up to 86.500 USDT can be expected before testing the downtrend again.

• Long-term: If BTC stays above 70,000 USDT and accumulates well, further long-term uptrend can be anticipated.

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