Current Trend
- Current Price: $86,368.09 (-1.84% in 24h).
- In the last hour: The price is showing bearish pressure but remains near the key support of $85,860 (24h low).
Moving Averages (1H)
- MA(9): $86,865.08 (near resistance).
- MA(21): $87,340.46 (key level to confirm recovery).
- MA(200): $85,305.34 (strong long-term support).
Interpretation:
- The price is below the MA(9) and MA(21), suggesting weakness in the short term.
- If it manages to recover above $86,865 (MA9), it could attempt to retake the $87,340 (MA21) zone.
Key Indicators
1. MACD (1H):
- DIF (-281.52) and DEA (-105.92) are negative.
- MACD (-175.60): Bearish signal, but with possible exhaustion (the lines are converging).
2. RSI(6): 27.58 (oversold).
- Indicates that the drop may be exaggerated and a bounce could happen soon.
3. Supports and Resistances (1H):
- Immediate support: $85,860 (24h low).
- Strong support: $85,305 (MA200).
- Key resistance: $86,865 (MA9) and $87,340 (MA21).
Volume
- Current volume (1H): Low (739.96K vs MA5 of 762.06K).
- Lack of buying volume suggests that the recovery could be limited without an increase in demand.
Probable Scenarios
1. Bounce from support ($85,860 - $85,305):
- If RSI(6) in oversold triggers a recovery, the price could attempt to break $86,865 (MA9)*
- Confirmation of strength if it surpasses $87,340 (MA21).
2. Bearish breakout ($85,305):
- If the price loses MA200 ($85,305), it could fall towards $84,125.
To conclude:
- Short term (1H): Bearish trend, but with the possibility of a bounce due to oversold RSI.
- Key:
- If the price holds $85,860, it could attempt a recovery.
- If it breaks $85,305 (MA200), bearish pressure would increase.
Suggested Action:
- If you are bearish: Wait for confirmation of a breakout at $85,305.
- If you expect a bounce: Look for entry near $85,860 with a stop-loss at $85,300.
(Watch the behavior of RSI and MACD to confirm momentum changes).
