Bitcoin (BTC/USDT) Analysis: Downtrend or Recovery?

Bitcoin (BTC) has shown high volatility in recent days, with a recent high of US$ 109.588 and a low of US$ 78.258. Currently, the price is at US$ 86.293, close to an important support level at US$ 83.584.

Current Trend

🔴 Short term: BTC is below the last relevant high, indicating a loss of strength in the uptrend. Additionally, moving averages point to a corrective moment, reinforcing caution.

📊 Moving averages: The MA(5) remains below the MA(10), which may indicate a bearish bias in the short term.

🔍 Support and resistance: The main immediate support is at US$ 83.584. If lost, BTC may seek US$ 78.000 or even US$ 76.000. On the other hand, a recovery above US$ 90.477 could lead the price to test US$ 97.000 and subsequently US$ 104.000.

Conclusion

BTC is at a decisive moment. Maintaining above US$ 83.584 may indicate a possible resumption of the uptrend, especially if accompanied by an increase in buying volume. However, if this support is broken, the downtrend may intensify.

Pay attention to volume and market behavior in the coming days! 🚀📉

📢 What do you think? Is Bitcoin preparing for a new high or can it still drop further?