The BTC/USDT pair has been very active and is a constant focus of attention in technical analysis! Here are the most relevant updates, focusing on what a trader should observe:
Current Status and Trend:
Bitcoin (BTC) has shown remarkable strength, consolidating above $100,000 USDT and has indeed recently reached new all-time highs, approaching $112,000 USDT. This persistent upward trajectory suggests that the underlying trend remains very strong. Technical analysts are observing the formation of a final impulse wave (wave 5), indicating a possible test of the previous high.
Key Levels to Watch:
* Supports: The most immediate support levels are around $106,800 - $108,000 USDT. A break below these areas could indicate a short-term correction. Stronger supports are mentioned near $95,000 - $97,000 USDT.
* Resistances: The current key level is the all-time high. A sustained move above $112,000 USDT would pave the way for "price discovery", where there are no clear historical resistances. Some technical analyses project possible future targets in the $124,000 - $140,000 USDT range in the medium term.
Influential Factors and Sentiment:
The market is driven by institutional demand and accumulation by "whales" (large investors). The approval of spot Bitcoin ETFs in January 2024 has been a significant catalyst, legitimizing the cryptocurrency for a broader investing audience. Additionally, the recent Bitcoin halving (halving of the reward for miners) tends to create scarcity and has historically preceded significant rallies.
Precautions:
Despite the optimism, volatility remains high. It is crucial to maintain strict risk management, using stop-loss to protect capital. Although the trend is upward, corrections and pullbacks are a natural part of the Bitcoin market cycle. Some indicators suggest a possible "profit-taking" in the short term, which could lead to sharp movements.
In summary, BTC/USDT is in a consolidation phase at elevated levels after reaching new highs, with a strong underlying bullish trend supported by institutional demand and the effects of halving. However, volatility demands caution and rigorous risk management.