Accurate technical analysis of #Bitcoin against USDT on a 4-hour timeframe (Binance)

Current price: $101,588.41

Daily drop: -1.80%

Lowest price in 24 hours: $101,383.07

Highest price in 24 hours: $103,866.51

Moving averages indicate clear selling pressure:

MA(7): 102,079

MA(25): 102,837

MA(99): 103,420

The price has broken below all three moving averages, indicating the beginning of a short to medium-term downtrend, unless we see a strong rebound above 102,500.

The candles show significant selling pressure, with a strong downward candle (Marubozu) at the lowest point of 101,383, reinforcing the likelihood of breaking this support towards the 100,500 - 99,800 areas.

MACD indicator:

Shows a negative crossover below the zero line

MACD: -58.47

DIF: -414

DEA: -356

This indicates a continuation of selling momentum and a loss of control by buyers.

Advice for traders:

Beginners: Avoid entering now, the market is volatile and the possibility of a drop is present. Wait for clear rebound signals (such as breaking MA25 upwards or a strong reversal candle).

Professionals: Selling opportunity when the price rebounds towards 102,000 with a stop loss above 102,500 and targeting 100,000 - 99,500.

Our upcoming expectation: If support at 101,200 does not hold, we may see a drop towards the 100,000 - 98,600 areas, especially with weak buying volume.

We remind you: This analysis is not financial advice, but a technical reading that may be right or wrong. Capital management is the foundation of success.

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✍️ :Ghaith