📊Current Price

  • BTC/USDT: $107,222.34

  • Change: -1.60% (indicating a short-term decline)

  • 📈Timeframe

  • 1 Day (1D) chart: Each candlestick represents one day of price action.

🔍Key Price Levels

  • 24h High: $109,506.03

  • 24h Low: $106,708.98

  • Current Price: $107,222.34

  • Recent Peak: $111,980.00 (Resistance level)

  • Support Zones:

    • $101,683.90

    • $96,071.35

    • $90,448.80

These act as key support and resistance zones, with $111,980 acting as immediate resistance and $101,683.90 as a nearby support.

🧮Moving Averages (MA)

The price is currently well above both the 50-day and 200-day MAs, showing a longer-term bullish structure. However, the recent decline from $111,980 hints at a short-term correction.

📉Candlestick Patterns

  • Recent candles show a bearish engulfing pattern with high selling volume.

  • The current candle (as of the time in the image) is forming near a trendline support (orange diagonal line).

📊Volume

  • Current Volume: 6.28K BTC

  • Volume has dropped compared to previous high-volume green days, indicating decreasing buying momentum.

  • 💹Relative Strength Index (RSI)

RSI values are in the neutral zone, suggesting that BTC is not overbought or oversold. However, they are edging toward the higher end, indicating a potential for correction if momentum weakens.

💰Market Sentiment (Order Book)

This reflects bearish sentiment in the short term — more traders are looking to sell than buy.

🔺Trend Analysis

  • BTC recently peaked at $111,980 but faced rejection and has pulled back to the $107K level.

  • A short-term ascending triangle pattern is visible, but a breakdown from this may send the price toward lower support levels ($101.6K or lower).

📌Conclusion & Strategy

Bullish Case:

  • Hold above $107K and break $111.9K could trigger a move toward new highs.

  • RSI still healthy, and price above 200-day MA signals long-term bullish momentum.

Bearish Case:

  • If BTC breaks below the orange trendline and $107K level, expect a move toward $101.6K and possibly $96K.

  • Selling volume is increasing, and bearish candlestick patterns are forming.

✅ Suggested Action:

  • Swing Traders: Wait for confirmation of bounce from support ($107K or $101K) before entering long.

  • Scalpers/Short-term: Monitor the break of the triangle and trade in the direction of breakout.

  • Investors: Still in a healthy uptrend above long-term MAs. Corrections can be buying opportunities.