Overview analysis
1. 4-hour timeframe (4H):
• Current price: 93,765.3 USDT, down 1.15% compared to the previous session.
• The short-term MA (MA7) is trending downwards, crossing below MA25 and MA99, indicating that selling pressure is still strong.
• Nearest support: 92,961.8 USDT (lowest price in the last 24 hours).
• Strong resistance: 95,195 USDT (highest price in the last 24 hours).
2. Candlestick patterns:
• The most recent candlestick shows hesitation with a small shadow, indicating a balance between buyers and sellers.
• The current price pattern seems to be fluctuating within a downward price channel, defined by the yellow trendlines.
#BtcNewHolder 3.
Trading volume:
• Selling volume is slightly dominant (47.72% sell, 52.28% buy). This indicates that market sentiment is still cautious and not leaning strongly towards an uptrend.
4. Other indicators:
• RSI: Currently, the exact data is unclear, but if RSI is below 50, the market is in a downtrend.
• MACD: There are almost no signs of upward crossover, and the market is still under downward pressure.
Short-term prediction (end of the month)
• Recovery expectation: BTC may recover slightly if the price maintains above the support level of 92,961.8 USDT and buying volume increases significantly. However, for a sustainable increase, it needs to surpass the resistance level of 95,195 USDT.
• Risk of continued decline: If the support level of 92,961.8 USDT is broken, the BTC price may drop deeper to the range of 91,468 USDT.
Trading strategy
• If holding BTC: Wait for clearer signals when the price exceeds 95,195 USDT to add to your position.
• If you want to buy: Consider the price range of 92,500 - 93,000 USDT. Set a stop-loss below 91,500 USDT.
• If you want to sell: Consider gradually taking profits if the price reaches the range of 95,000 - 96,000 USDT.
Continue to monitor factors such as trading volume and market news to adjust strategies in a timely manner.
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