According to the Binance chart, the current price of BTC/USDT is 118,630.61 USDT, up by 0.05%. The sell pressure stands at 33.88%, higher than the buy pressure at 28.61%, with a 5-day large cash inflow of -1.147.9524 BTC, indicating a potential correction.
๐ Technical Analysis:
Trend: Within an upward channel, but trending below MA(50), suggesting a possible pullback.
Support Levels: 117,453.57 USDT, 116,000 USDT
Resistance Levels: 120,998.71 USDT, 122,000 USDT
RSI: Risk of overbought conditions; MACD shows bullishness but with potential bearish divergence.
๐ก Forecast:
Short-term (24-48 hours): Likely range between 117,000-120,000 USDT, with a downside risk to 115,000 USDT if support breaks.
Medium-term (1-2 weeks): Potential rise to 125,000 USDT if bullish momentum returns.
Long-term (End of 2025): Possible climb to 140,000-150,000 USDT with favorable regulations and adoption.
๐ Trading Strategy: Buy at 117,000 USDT (Stop-loss at 116,000 USDT), Sell at 120,500 USDT (Stop-loss at 121,500 USDT). #BTC #Crypto #Trading #Binance #MarketAnalysis $BTC
