Technical Analysis
1. Current Bullish Trend:
• A strong bullish movement has been observed from a low of 81,133.53, indicating a significant recovery.
• The candles show a clear bullish trend with ascending highs and lows.
2. Volume:
• The volume has been considerably high in the last green candles, confirming that buyers have been dominating the market.
• However, in the last candles, the volume begins to decrease, which could indicate a possible loss of strength in the bullish trend.
3. Technical Indicators:
• MACD: It is positive (277.67), with the histogram showing green bars, suggesting that the bullish trend is still active.
• RSI:
• RSI(6) = 67.65 (close to overbought)
• RSI(12) = 63.57
• RSI(24) = 56.80
• Although the RSI is not yet at extreme levels, it is on the high side, indicating that there could be exhaustion in the bullish trend.
Possible Continuation of the Trend: If volume increases again and momentum is maintained, BTC could break the resistance of 88,781.22 and head towards 89,000 - 90,000 USDC.
Possible Bearish Break: If volume continues to decrease and the RSI remains in overbought territory, we could see a correction towards support levels at 87,481.11 or even 85,798.62.
• If you are trading in the short term, watch the resistance at 88,781.22 and the behavior of the volume.
• If buying pressure decreases, we could see a correction before continuing with the bullish trend.
• An appropriate stop loss could be at 86,900 - 87,000 USDC if a reversal is confirmed.