The BTC/USDT chart shows a bearish short-term outlook. After a significant drop from 110,530.17, the price (104,957.71) is below key short-term moving averages (MA7, MA25) and significantly below the longer-term MA99, indicating resistance. High volume during the sell-off and low volume during recovery attempts suggest strong selling pressure and weak buying conviction. Expect further downward pressure, potentially testing 104,118.00 or 102,664.31, or continued consolidation with a bearish bias. A strong bullish reversal is unlikely without a significant increase in buying volume.

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