Chart analysis for BTC/USDT on the 15-minute timeframe:
🔍 Key points from the chart:
Current price: 104,195.12 USD.
Highest price in 24 hours: 105,935.63 USD.
Lowest price in 24 hours: 103,862.50 USD.
Recent trend: Strong decline followed by a slight rebound.
Moving averages:
MA (7) = 104,101 (Short-term, indicating a potential upward crossover).
MA (25) = 104,695 (Still above the price, current resistance).
MA (99) = 104,937 (Higher resistance).
🔄 Technical analysis:
Current trend:
The overall short-term trend is still bearish, but there are signals of a temporary rebound after reaching the lowest point at 103,862.
Trading volume:
We noticed a significant increase in volume at the start of the rise, indicating buying interest, but it has not yet broken the strong resistance at 104,700 - 104,900.
Nearby resistance level:
104,700 (MA25).
104,937 (MA99).
Nearby support level:
103,860 (Lowest point today).
📈 Short-term forecast (within the next few hours):
If the price remains above 104,100 and breaks through the resistance at 104,700, we might see a rise to 105,200 - 105,500.
If it fails to break the resistance and starts to decline, a return to 103,860 is possible, and breaking it may open the door for further decline to 103,500.
✅ Buy scenario (for quick speculation):
Entry: If it breaks 104,700 with a strong candle.
Target: 105,200 - 105,500.
Stop loss: Break below 104,000.
❌ Sell scenario:
Entry: If it fails to break 104,700 and bearish reversal candles appear.
Target: 103,860 initially.
Stop loss: Above 104,900.
