$BTC
Hello everyone,
I hope you are all well.
Here is a brief analysis of the daily chart of Bitcoin (BTC/USDT):
🔍 General Trend
- The current price (102,900.86 USDT) is below the EMA(7) (103,619.76 USDT), which suggests a slight downward movement in the short term.
- The exponential moving averages of larger periods (EMA 50, EMA 99, and EMA 200) indicate a solid long-term support, as the price is still well above these levels.
📈 Strength Indicators
- RSI(6) at 49.33: Almost neutral, but close to the oversold zone (below 30). This indicates that the market may be approaching a reversal point.
- RSI(12) and RSI(24) above 58: This reading suggests that Bitcoin has the strength to continue rising, provided there is no excessive selling pressure.
⚠️ Support and Resistance Zones
- BTC is testing the support at 102,641.00 USDT. If this level is broken, it could drop to 94,438.06 USDT and subsequently to 87,290.56 USDT.
- The new primary resistance is 107,108.62 USDT. If BTC can surpass this mark, it may resume an upward movement aiming for **110,000 USDT** or more.
📊 Strategic Interpretation
- Short term: If BTC remains above the immediate support, there may be a recovery targeting the primary resistance (107,108.62 USDT).
- Medium term: The long-term moving averages indicate a sustained upward trend. If there is a correction, it could be a buying opportunity near the mentioned supports.
- Risk: If the volume decreases and the price loses the support of 102,641 USDT, a larger drop may occur.
🚨 We are already experiencing a slight correction in the short term, but still in a bullish structure in the medium and long term. Monitoring trading volume and reactions to support and resistance levels will be crucial to seize the next movement.
Your most valuable token is your capital, protect it.
Best regards.
