BTC/USDT Technical Analysis - Real-Time Update

Current Price: $94,165

Daily Change Percentage: -0.35%

Moving Averages MA indicate:

MA(7) = 94,215$ (above the current price, reinforcing short selling pressure)

MA(25) = 94,676$ (relatively far, indicating continuation of the downtrend)

MA(99) = 93,442$ (near support that should be closely monitored)

Additional Indicators:

The MACD indicator deepens in negativity with a clear negative divergence between MACD and the signal line, indicating the continuation of bearish momentum.

Trading volumes are generally low, indicating a lack of buying power supporting a near-term reversal.

Forecast for the coming hours:

We may see a strong test of the support level 93,442$ in the coming hours.

If broken with a 4-hour candle close below, the price may head towards the next area 92,994$ and possibly lower towards $92,024.

Trading Advice:

Delayed Buy Entry: Wait for confirmation of price reversal above 94,215$ with strong trading volume, otherwise remain cautious of continued decline.

Calculated Risk Sell Entry: In case of a break below 93,442$ with a 4-hour candle close, a sell entry can be made with a first target of 92,994$ and a second target of 92,024$ with a stop loss above $94,215.

Alert:

The current situation leans towards selling pressure, and random entry is not recommended. Adherence to capital management is very crucial in these critical areas.

✍️ : Ghaith