$BTC

BTC/USDT Price Analysis (May 14, 2025)

Current Price: ₹103,449.04

24h Change: +0.63%

24h High: ₹104,976.25

24h Low: ₹102,540.18

Timeframe: 1 Hour

Exchange: Binance

Technical Overview:

BTC/USDT recently experienced a local high near ₹104,976 before pulling back to the current level around ₹103,449. This correction has brought the price just below the 20-period Exponential Moving Average (EMA20), currently at ₹103,740.84, while the 9-period EMA (EMA9) sits slightly higher at ₹103,762.60.

The EMA crossover—where EMA9 is starting to dip below EMA20—may indicate weakening short-term momentum, hinting at a possible bearish shift in the hourly trend.

Support and Resistance Levels:

Immediate Resistance: ₹103,740 (EMA20)

Stronger Resistance: ₹104,976 (Recent high)

Immediate Support: ₹102,812

Major Support Zone: ₹101,429 (Recent swing low)

Relative Strength Index (RSI):

The 6-period RSI is at 32.29, approaching the oversold region. This suggests that while bearish momentum is picking up, the price may soon hit a support level or experience a relief bounce.

Market Sentiment:

Current sentiment appears cautious. The price is consolidating after a strong upward move, and selling pressure has slightly increased. If the price breaks below ₹102,812, it could trigger further downside. However, holding above this level could indicate a potential reversal.