$BTC
Technical Analysis for BTC/USDT Pair — 4-Hour Time Frame
🔹 Current Price: 107,247.4
🔹 Overall Trend: Bullish in the short term, with momentum slowing recently
🔹 Moving Averages:
The price is above all moving averages (MA7, MA25, MA99), indicating a dominance of the bullish trend.
EMA7 at 107,256 and MA7 at 107,202 are very close to the current price, indicating consolidation in this area.
🔹 Technical Indicators:
RSI (14) at 57.38: close to the overbought area but still neutral.
MACD shows a negative crossover (DIF < DEA) with weak momentum, reflecting the possibility of a minor correction or sideways movement.
🔹 Trading Volumes: Decreased significantly, indicating a current loss of bullish momentum.
🔹 Technical Outlook:
The price has been in a tight range between 106,800 and 107,500 for several candles.
A strong close above 107,600 could push towards the next resistance at 109,400.
A break below 106,600 would push the price towards support from the moving averages between 105,500 and 104,600.
🎯 Conclusion: The trend is still bullish but the loss of momentum may lead to sideways movement or a minor correction before continuing upward. Monitoring the breakout or breakdown is essential before making a decision.
