$BTC ### BTC/USDT Technical Analysis - 3 April 2025
#### Current Price: 83,604.89 USDT (≈ R23,432,778.56)
#### 24h Change: -1.27% (Bearish short-term momentum)
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### Key Observations
1. Price Action:
- 24h High: 88,500.00 (Resistance level)
- 24h Low: 82,175.98 (Support level)
- Current price is near the lower end of the 24h range, suggesting bearish pressure.
2. Volume & Liquidity:
- 24h Volume (BTC): 43,606.83 BTC
- 24h Volume (USDT): 3.72B USDT (High liquidity, but selling pressure dominates)
- OBV (On-Balance Volume): -2,400,498.68 (Negative, indicating distribution/selling)
3. Moving Averages (Trend Indicators):
- MA & EMA: If price is below key MAs (e.g., 50/200 EMA), the trend is bearish.
- SAR (Stop & Reverse): If dots are above price → Downtrend confirmed.
4. Oscillators (Momentum Indicators):
- RSI: Not explicitly given, but if below 50, it signals bearish momentum.
- KDJ:
- K: 30.30 (Near oversold)
- D: 36.50 (Neutral)
- J: 21.90 (Oversold) → Potential short-term bounce possible.
- MACD: If histogram is negative → Bearish momentum persists.
5. Support & Resistance Levels:
- Immediate Support: 82,175.98 (24h Low)
- Next Support: 76,406.00 (Previous swing low)
- Resistance Levels: 88,500 → 89,448.98 → 96,725.02
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### Conclusion & Outlook
- Short-term (1D): Bearish (Price near 24h low, negative OBV, weak RSI/KDJ).
- Potential Reversal Signal: If KDJ’s J-line rebounds from oversold (21.90), watch for a bounce.
- Breakdown Risk: If 82,175.98 breaks, next target is 76,406.00.
- Bullish Scenario: Needs a close above 88,500 with rising volume.
Trade Suggestion:
- Short-term traders: Wait for confirmation (hold above support or breakdown).
- Long-term holders: Monitor 76,406 as a potential accumulation zone.
Key Events Ahead: Watch for macroeconomic news (Fed rates, ETF flows).
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Disclaimer: This is not financial advice. Always conduct your own research.
Last Updated: 3 April 2025, based on the latest data.$BTC