$BTC Trend Analysis
Current Price: The current price of BTC is 114,171.11 USDT, down approximately 0.89% from the previous day.
Trend Line: The chart shows that the medium to long-term trend lines (purple and yellow lines) are generally upward, but recent prices have declined, approaching the moving average support.
Short-term Fluctuations: Around August 18, there was a surge in price with increased trading volume, but it subsequently retraced, indicating some adjustment pressure.
Trading Volume: Recently, trading volume significantly increased during the upward movement, but volume weakened during the retracement, suggesting the market may be entering a wait-and-see phase.
Technical Indicators: MA7 (7-day moving average) and MA29 (29-day moving average) indicate that the price is currently close to the moving average, with short-term support likely around 114,000 USDT.
RSI (Relative Strength Index) did not show a specific value, but based on the fluctuations, it may be in a neutral zone in the short term.
Support and Resistance: The recent low of about 114,000 USDT is an important support level, while the resistance level may be in the range of 115,000-116,000 USDT.
Summary: The current BTC/USDT trend is in an adjustment phase, and it may oscillate within the 114,000-115,000 USDT range in the short term. It is recommended to pay attention to the performance of the 114,000 USDT support level.
