$BTC
Hello everyone,
I hope you are all well.
In the last 24 hours, the crypto market had a very dramatic record of liquidations of approximately $1.14B.
At this moment, the data presented in the daily chart indicates a drop in the price of BTC/USDT, evidenced by the negative variation of -2.74% in the last 24 hours.
This pullback is reinforced by the fact that the current price $104,748.42 is below the short-term moving averages EMA 7 and EMA 25, suggesting a downward trend.
Meanwhile, the 50-period EMA is still below the current price, which may indicate a possible support zone.
On the other hand, the EMA 99 and EMA 200 show lower values, pointing to a long-term upward trend.
Points to consider:
If the price finds support near the EMA 50, there may be a recovery, but falling below this level could accelerate the depreciation.
The Relative Strength Index (RSI), which measures the strength of market momentum, reveals that in the short term (RSI 6 = 39.46), the asset is close to the oversold zone, suggesting a possible bounce back. Longer periods (RSI 12 = 46.93 and RSI 24 = 52.75) indicate a more balanced condition.
The traded volume in the last 24 hours (27,583 BTC) shows significant activity, potentially indicating selling pressure. If the volume increases without a price recovery, the downward trend may strengthen.
The data suggest a possible continuation of the downward trend in the short term, with support points that may influence a potential reversal. The analysis of volume and RSI will be crucial to understand the next market movements.
Suggestions:
- Wait for confirmation of support at EMA50
- If you decide to enter now, it is advisable to set a StopLoss below the EMA50 or have a good strategy (such as staggered entries).
- Monitor if the price action corresponds to the volume.
- Stay alert for news.
As I always say, your most valuable token is your capital. Protect it.
A big hug.
