$BTC Here's a short analysis of the #BTC /USDT chart from Binance:

Timeframe: 1-hour chart

Current Price: $86,880

24h High/Low: $87,795.26 / $83,949.52

Price Change (24h): +3.42%

Key Observations:

Strong Bullish Spike:

There's a significant green candle indicating a sharp upward price movement from around $84,000 to the peak of $87,795.26. This likely indicates a breakout or high demand in a short time.

Resistance Hit:

After peaking near $87,800, the price shows rejection (multiple upper wicks), indicating strong resistance at that level.

Pullback in Progress:

Current price has pulled back to $86,880, suggesting short-term profit-taking or resistance holding firm.

Volume Surge:

There's a noticeable volume spike during the big green candle, supporting the legitimacy of the breakout. However, volume is tapering off afterward, showing some loss in buying momentum.

Moving Averages:

MA(5): 700.82

MA(10): 859.40

These are unusually low, likely a display bug or they’re based on volume candles, not price — needs clarification.

Support Zones:

Immediate support: ~$86,295

Stronger support: ~$84,600 and ~$83,950 (recent low)

Summary:

Short-term: Bullish with potential for continuation if price holds above $86,200.

Caution: Watch for rejection near $87,800 again. If it fails, consolidation or correction might follow.