For those interested in AI support, check out this AI analysis: $BTC on daily with moving averages (MA). What do you think?
BTC/USDT Chart Analysis - 1D (Daily) on Binance
1. Price Position Relative to Moving Averages
- MA 7 (Orange): The price is slightly below, indicating that short-term momentum remains weak.
- MA 25 (Purple): It continues to act as resistance, reinforcing bearish pressure in the medium term.
- MA 99 (Light Blue): The price is also slightly below, which may be a negative sign if it fails to recover soon.
2. Analysis
The price fell below the MA 99, indicating that the market is losing key support.
The MA 7 and MA 25 are still sloping downwards, suggesting that the bearish trend continues to dominate in the short and medium term.
The price is in a congestion zone between 96500 and 97500, indicating market indecision.
3. Possible scenarios
✅ Bullish scenario (least likely at the moment):
If BTC reclaims the MA 99 (~97500) and manages to break the MA 7 (~97029), it could attempt a bounce towards 99k - 100k. For it to be sustainable, a daily close above 99500 with volume would be needed.
⚠️ Bearish scenario (most likely at the moment):
If BTC fails to reclaim the MA 99 and continues to lose strength, it could drop to 95000 - 93000 as the next strong support. A drop with volume below 96000 would confirm the weakness and increase the chances of a deeper correction.
4. Conclusion
The market is in a critical zone. If it fails to recover the 97,500 - 98,000 levels, we could see more bearish pressure in the coming days.
📌 Key level to watch: 97,500 - 99,500
📉 Supports: 96,000 - 95,000 - 93,000
📈 Resistances: 98,000 - 99,500 - 100,000
🔥 Recommendation: Be cautious and wait for confirmations. A bounce off the 99 MA could be a bullish signal, but a drop below 96,000 would trigger bearish scenarios.
This is not advice, it is just an opinion.