Below is the trend analysis of the BTC/USDT pair based on the chart:
1. Price trend:
Current price: 98,810.78 USDT, up +1.81%.
24h high: 99,475.00 USDT.
24h low: 96,799.42 USDT.
The price is showing signs of recovery from the earlier low of 89,256.69 USDT.
2. Bollinger Bands indicator:
The price is currently moving up from the middle area of the Bollinger Bands.
Upper band: 99,730.46 USDT, middle band: 97,173.03 USDT, lower band: 94,615.60 USDT.
If the price breaks through 99,730 USDT, it may continue to rise strongly.
If the price touches the upper band and does not break through, a downward correction may occur.
3. RSI (Relative Strength Index) indicator:
RSI(6) = 66.08, close to the overbought zone (70).
If RSI continues to rise and exceeds 70, a short-term downward correction may occur.
4. Stochastic indicator (K, D, J):
K: 71.55, D: 58.53, J: 97.58.
The J indicator is in the overbought zone (above 90), a slight downward correction may appear.
5. Trading volume:
Trading volume is slightly increasing, indicating investor interest.
Summary of trends:
Short-term trend: Up but may face resistance at the 99,730 USDT level.
Important resistance: 99,730 USDT; if broken, it may head towards 101,658 USDT.
Important support: 97,185 USDT; if this support is lost, it may drop to 94,615 USDT.
Recommendation:
If the price breaks 99,730 USDT, consider buying in.
If the price cannot break and RSI reaches overbought, consider taking profits or waiting for a correction to re-enter.
