$BTC Technical Analysis BTC/USDT (Futures, 4-Hour Candles)
In the 4-hour chart, we observe a bearish consolidation with clear signs of bullish exhaustion:
1. EMA Indicators
EMA(7): 97,828.8
EMA(25): 97,058.0
EMA(99): 89,790.5
The exponential moving averages show a recent bearish crossover between EMA(7) and EMA(25), indicating that selling pressure is dominating in the short term. This could continue dragging the price towards EMA(99), which acts as a relevant support at 89,790.
2. Volume
The volume shows a slight increase in red candles, confirming interest from sellers. This supports the probability of continued downward movement.
3. MACD
DIF: 912.5
DEA: 1,323.4
MACD: -410.9
The MACD histogram is in negative territory and widening, supporting an ongoing bearish trend.
4. RSI(6)
With a value of 34.5, the RSI is in the vicinity of oversold territory. This suggests a potential pause in the decline, although there are still no clear signs of bullish reversal.
Key Levels
Resistance: 99,660
Support: 94,155
Conclusion:
BTC/USDT is facing strong bearish pressure in futures. It is crucial to monitor if the price breaks the support at 94,155, which could open the way towards EMA(99) at 89,790. However, the RSI indicates that we may see a short-term bullish correction before continuing to fall. Ideal for short strategies, with caution at oversold levels.
Does your strategy consider these levels? Leave it in the comments!
