Market Analysis! Entry Points

The BTC/USDT chart on Binance shows a price decrease of 1.91%, the current price is 82,615.62 USDT.

Main Observations:

1. Trend and Support/Resistance Levels:

• The recent peak was 85,309.71 USDT.

• The lower bound of the last movement is around 79,939.90 USDT.

• The price is currently holding around 82,600 USDT, close to support at 81,782.90 USDT.

2. Indicators:

• Bollinger Bands: The price is closer to the lower bound, which may indicate oversold conditions.

• MACD: Negative values (-47.54), but the histogram is starting to rise, which may signal an upcoming reversal.

• RSI: Values of 31.69 (6), 36.29 (12), and 41.76 (24) indicate that the market is close to the oversold zone.

3. Volumes:

• An increase in volumes is observed during the decline, which may signify profit-taking or exiting a position.

Possible Scenarios:

• If BTC holds the level of 81,782 USDT, a rebound up to 83,500–84,000 USDT is possible.

• If it breaks downward, the next support level is around 80,500–79,900 USDT.