[Technical Analysis BTC/USDT - May 19, 2025]
The current price of Bitcoin is $102,964, experiencing a daily decline of -0.81%.
Key Indicators:
EMA 50 (yellow line): $103,785
EMA 200 (green line): $103,009
The current price is below both EMAs, indicating a bearish trend in the short and medium term.
MACD:
The MACD and Signal lines are still in the negative area, and the histogram shows that negative momentum is still ongoing, although it is beginning to decrease. This could be a signal of potential consolidation or a reversal opportunity if negative momentum weakens further.
RSI (6): 38.64
RSI is approaching the oversold area but has not yet shown a strong rebound signal.
Candlestick & Price Action:
The price briefly touched a strong support level at $102,000, and there was a slight bounce from that level.
However, selling pressure still appears dominant as it has not managed to break back above EMA200 as resistance.
Conclusion & Prediction:
The market is still under bearish pressure with signs of weakening short-term trends. However, the small bounce from the $102,000 support area could be a point of interest.
Advice:
BUY is not recommended at this time, wait for a breakout confirmation above EMA200 or a positive MACD signal.
For those still holding, monitor the support at $102,000 – if it breaks, it could lead to the next support around $100,000.
For short-term traders, a SELL option could be considered if the price fails to break through EMA200 again.
Prediction: SHORT-TERM = SELL,
Wait for further confirmation for a safe BUY entry.