Current situation:
- Price: $97,523.81 (+0.30% for the last period).
- Volatility over 24 hours: Maximum - $97,895.68, minimum - $96,184.19.
- Trading volume: 16,411.72 BTC (1.59 billion USDT), indicating high market activity.
Technical indicators:
1. MACD:
- DIF: 3,205.94
- DEA: 2,582.89
- MACD: 623.06 (positive value, which may signal a continuation of the upward trend).
2. RSI(6): 83.03 - a value above 70, indicating overbought conditions. A correction or consolidation is possible.
3. Moving averages (MA/EMA): Data is not fully visible, but it can be used to confirm the trend.
Key levels:
- Support: The nearest levels are $96,184.19 (24-hour low), then $93,919.77 and $88,774.48.
- Resistance: $97,895.68 (24-hour high), then $99,065.07 and $100,000 (psychological level).
Recommendations:
- Short-term traders: Caution due to overbought conditions (RSI > 80). Corrections possible. Partial profit-taking can be considered.
- Long-term investors: The trend remains bullish (MACD positive). Corrections may provide buying opportunities.
- Stop-loss: For buyers - below $96,184.19. For sellers - above $97,895.68.
Additionally:
- Monitor the volumes: a decrease in volumes during a price increase may indicate trend weakness.
- Keep an eye on news that may affect the market (regulatory decisions, macroeconomic data).
Conclusion:
The BTC/USDT market demonstrates an upward trend, but overbought conditions (RSI) require caution. A correction is likely, but the overall trend remains positive if it stays above key support levels.