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Technical Analysis 1 Day $BTC /USDT

1. Price and Trend: The current price is 102,915.2 USD. The chart shows that the price recently reached a local high (around 110,031.7 USD) and started a downward correction. The overall trend looks sideways with a downward bias as the price has fallen below the upper limit of the Bollinger Bands (110,031.7 USD) and is approaching the middle line (around 98,115.4 USD).

2. Moving Averages (MA):

• MA(5): 180,103.4 – the short-term average shows a downward movement.

• MA(10): 162,481.9 – also confirms the decrease in momentum. The price is below these averages, indicating a potential bearish trend in the short term.

3. Bollinger Bands: The price is approaching the middle line (98,115.4 USD), which may act as a support level. A bounce from this line may signal a possible recovery, but a break below may lead to a further decline to 93,962.7 USD.

4. MACD: DIF (-570.2) has fallen below DEA (76.2), while MACD (-646.4) remains negative. This confirms the bearish momentum and a possible continuation of the correction.

5. Stochastic RSI: The values ​​of StochRSI (5.6) and MA(StochRSI) (2.6) are in the lower zone, which may indicate oversold conditions. This may signal a potential upward reversal if the price stabilizes.

6. Volumes: Trading volumes are slightly decreasing, which may indicate a decrease in investor interest in the current price.

⚠️Conclusion:

BTCUSDT is currently in a correction phase after the recent rally. The short-term trend looks bearish, but the oversold Stochastic RSI may indicate a possible rebound from the support level of 98,115.4 USD. It is recommended to monitor the breakdown of this level and the volumes to confirm further movement.