Price & Trend
Current Price: $84,464.3
24h High/Low: $86,443 / $84,303
Trend: Short-term bearish trend (price is declining).
Recent High: It hit $86,443 and then sharply dropped, now forming lower highs and lower lows.
EMA (Exponential Moving Averages)
EMA(7): 85,015.1 (Yellow)
EMA(25): 85,109.0 (Pink)
EMA(99): 84,144.8 (Purple)
Currently, price is below all major EMAs (especially the 7 and 25), which generally signals a bearish momentum.
Volume
A recent spike in red volume bars shows strong selling pressure.
The overall volume seems to be increasing slightly during the dip—another bearish sign.
RSI (Relative Strength Index)
RSI(6): 21.2 (oversold territory)
RSI(14): 40.1
RSI(6) being near 20 suggests oversold conditions, which could mean a short-term bounce might happen, but RSI(14) still indicates there is more room for downside before becoming extremely oversold.
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Bearish Indicators:
Price below EMA(7), EMA(25), and EMA(99)
Strong recent red candles and sell volume
Lower highs and lower lows pattern
Bullish Possibility:
RSI(6) is low (might hint at a short-term rebound or consolidation)
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Short-Term (1h timeframe): Currently, this looks like a sell/short trend unless there's confirmation of a reversal (like a strong bullish candle, or price reclaiming EMA25).