Let's analyze the technical chart of BTC/USDT on the daily timeframe (1D) to identify the price cycle of Bitcoin over the past year, based on the provided image. Since I cannot search for current data, I will focus on interpreting the chart and the visible indicators to describe price behavior.
### Technical Analysis of BTC/USDT (1 Year Cycle)
#### 1. General Price Context
- Current Price: 104,695.75 USDT (at the time of the chart).
- 24h High: 105,333.00 USDT.
- 24h Low: 100,372.26 USDT.
- Annual Range (approximate): The chart shows that the price has fluctuated between ~50,000 USDT and ~108,581.19 USDT (maximum visible in the chart).
- Overall Trend: The price has experienced a significant bullish movement in the last year, moving from levels near 50,000 USDT to over 104,000 USDT, indicating a long-term bullish market.
#### 2. Price Cycle Analysis (Last Year)
The chart shows the price behavior from approximately June 2024 to June 2025. Let's identify the phases of the cycle:
- Accumulation Phase (June 2024 - October 2024):
- The price remained in a range between ~50,000 USDT and ~65,000 USDT for several months.
- This period reflects an accumulation phase, where the market consolidated after previous movements, with low volume and moderate volatility.
- Key support levels were at 50,000 USDT, while resistance was near 65,000 USDT.
- Bullish Phase (October 2024 - March 2025):
- Starting in October 2024, the price broke the resistance of 65,000 USDT and began a sustained bullish trend.
- The price reached levels of 83,253.94 USDT and continued rising to a high of 108,581.19 USDT (visible in the chart).
- This upward movement was accompanied by an increase in volume, as observed in the volume indicator at the bottom of the chart, confirming the strength of the trend.
- The intermediate resistance levels (74,616.90 USDT and 90,790.51 USDT) were easily surpassed.
- Distribution Phase (March 2025 - May 2025):
- Upon reaching a high of 108,581.19 USDT, the price showed signs of consolidation, with sideways movements between 90,790.51 USDT and 108,581.19 USDT.
- This phase suggests a possible distribution, where buyers and sellers are balanced, and volume begins to decline slightly.
- The RSI (Relative Strength Index) during this period remained at high levels (close to 70), indicating a possible overbought condition, which could anticipate a correction.
- Correction Phase (May 2025 - June 2025):
- The price fell from a high of 108,581.19 USDT to 100,372.26 USDT (24h minimum), indicating the start of a correction.
- Currently, the price is at 104,695.75 USDT, attempting to stabilize.
- The RSI has dropped to 48.28, suggesting that the market is in a neutral zone, neither overbought nor oversold, which could indicate that the correction is coming to an end or that the price could consolidate before a new move.
#### 3. Technical Indicators
- Exponential Moving Averages (EMA):
- The chart includes a crossover of EMAs (possibly EMA 50 and EMA 200, although not specified).
- During the bullish phase, the EMAs crossed upward (shorter EMA above the longer EMA), confirming the bullish trend.
- Currently, the EMAs appear to be converging, which could indicate possible indecision in the market or a trend change if a bearish crossover occurs.
- RSI (Relative Strength Index):
- The current RSI is 48.28, indicating that the market is in a neutral zone.
- During the bullish phase, the RSI likely reached overbought levels (>70), and has now corrected to more sustainable levels.
- An RSI below 50 but above 30 suggests that we are not yet in a phase of overselling, but bullish momentum has decreased.
- Volume:
- Volume increased during the bullish phase, especially during breakouts of key resistances.
- Currently, the volume seems to be decreasing, which is typical in a consolidation or correction phase.
#### 4. Key Support and Resistance Levels
- Resistances:
- 108,581.19 USDT (recent high).
- 104,860.64 USDT (intermediate resistance).
- Supports:
- 100,372.26 USDT (recent minimum).
- 90,790.51 USDT (strong support).
- 83,253.94 USDT (additional support).
#### 5. Cycle Perspective
- Bitcoin has completed a significant bullish cycle in the past year, moving from an accumulation phase to a strong bullish trend, followed by distribution and a recent correction.
- The current correction could be an opportunity for the price to find support at levels such as 100,372.26 USDT or 90,790.51 USDT before attempting a new bullish move.
- If the price breaks below 90,790.51 USDT, we could see a deeper correction towards 83,253.94 USDT or even lower levels.
- On the other hand, a breakout above 108,581.19 USDT would confirm the continuation of the long-term bullish trend.
#### 6. Conclusion
The price cycle of BTC/USDT in the last year shows a clear bullish trend with a recent correction. The price has risen by 47.35% in the last year (according to the chart), but the neutral RSI and decreasing volume suggest that the market is in a consolidation phase. Traders should monitor the mentioned support and resistance levels, as well as the behavior of the RSI and EMAs, to determine the next significant move.
