From the BTC/USDT chart displayed on the 4-hour (4h) timeframe on Binance, here is the technical analysis:
1. Price Trends and Patterns**
- BTC previously experienced a sharp decline from around 106,450 to the level of 91,130, indicating a bearish phase.
- Currently the price is consolidating in the range of 97,500 with sideways movement in the price range of 96,636 - 98,154 over the past 24 hours.
- The current price is around the MA (7) and MA (25) lines, indicating a potential breakout in the near future.
2. Moving Average (MA) Indicator**
- MA (7) at 97,510.5 → indicates short-term price movement.
- **MA (25) at 96,778.0 → is still below the current price, indicating support.
- MA (99) at 98,202.6 → becomes a strong resistance that must be broken if BTC wants to move higher.
3. Support and Resistance
- main support: 96,636 (24-hour low) and 93,734 (strong support from the previous consolidation area).
- Main resistance: 98,154 (24-hour high) and 100,475 (next psychological resistance).
4. Volume & Momentum**
- Transaction volume is still relatively low, indicating that the market is still waiting for confirmation of the next direction.
- If there is a spike in volume with a breakout above 98,200, BTC is likely to continue rising to 100,000.
- If it fails to break through, BTC could return to support 96,600 - 93,700.
*Conclusion & Trading Scenario**
- Bullish scenario: If BTC breaks 98,200 with high volume, the next target is 100,500 - 103,800.
- Bearish scenario: If BTC falls below 96,600, it could head to 93,700 - 91,100.
- Sideways scenario: If there is no breakout, BTC could continue to consolidate in the range of 96,600 - 98,200.
**Suggestion:** Pay attention to volume and price reaction to resistance & support levels before taking a long/short position.
