The current price of BTC at $94,850.97 USDT - a number we've seen before in recent history!

As I dive into the technical insights, it's clear that we're navigating some familiar territory.

Firstly, let's talk about resistance.

That local max around $95,119.19 USDT is still holding strong as a ceiling for our price.

Meanwhile, the local min around $94,861.40 USDT serves as a comfortable floor beneath us.

These levels have been testing our patience recently, and it'll be interesting to see how they react to further price action.

The 20-minute Simple Moving Average (SMA) of ~$93,251.45 USDT is still below the current price, indicating some upward momentum in recent minutes.

However, it's essential to remember that this is a relatively short-term indicator and might not fully capture the bigger picture.

The Bollinger Bands have been widening, reflecting increased volatility in the market.

The upper band of ~$96,395.34 USDT and lower band of ~$90,107.56 USDT give us a sense of the potential price range we could see moving forward.

Now, let's talk about trends.

I've mentioned it before - there is a mild downward trend channel in play here.

It's not a runaway bear market by any means, but rather a gentle pullback that traders are watching closely.

The Relative Strength Index (RSI) of 61.91 suggests we're still within the neutral zone, neither strongly overbought nor oversold.

However, this could be an indication that some sellers are starting to gain traction.

Lastly, the Moving Average Convergence Divergence (MACD) is telling us a story of a significant gap between our short-term and long-term price movements.

The 458.82 line is far above the Signal line at 207.91, indicating potential upside momentum.

While it's impossible to predict with certainty what happens next, I'm curious to see how these indicators will play out in the coming hours and days.

I am BEARISH on BTC currently. ~