BTC today!
In the 4-hour chart of the BTC/USDT pair on Binance, today's movement shows a sharp drop to a low of 98,200.00 USDT, followed by a slight recovery to around 100,050.40 USDT. The price has fallen significantly below the EMA(7), EMA(25), and EMA(99) moving averages, indicating strong selling pressure. The volume increased significantly on the bearish candle, suggesting short-term capitulation. The RSI(6) is at 33.15, indicating oversold conditions. The MACD remains negative, with DIF and DEA showing a strong downtrend. The final buyer reaction may indicate the beginning of consolidation or a technical rebound. However, the overall bias remains bearish until it breaks the resistances at the upper moving averages.
