Quick Analysis of BTC/USDT
1. Current Price: 86,815.21 USDT (-0.79%)
2. Near Support: 85,355 USDT
3. Near Resistance: 88,765 USDT
Technical Indicators:
SAR Indicator (yellow dots): Currently indicates a downward trend, meaning the price is still under selling pressure.
MACD: Negative (-179.21) indicates weak upward momentum and continued downward pressure.
RSI (Relative Strength Index): At 43.55, which is in neutral territory but close to oversold regions, which may indicate a potential rebound.
Will the price rise?
If the price holds above support at 85,860 USDT and does not break it, we may see an upward rebound.
For an upward breakout, the price must exceed resistance at 88,765 USDT with an increase in trading volume.
If the MACD continues to decline and the candles remain below the SAR, there may be further pullback before rising.
Summary: The current situation is bearish, but if support holds and positive signals appear such as a bullish MACD crossover, the price may start to rise. It is advisable to monitor closely and wait for bullish confirmations before entering a buy trade.
