BTC/USDT Latest hourly level data shows that the Bitcoin price is oscillating between the 25-period SMA ($94,604.55) and the 50-period SMA ($94,296.48), resembling a unicycle walking on a tightrope.
The latest closing price reached $94,782.6, but the resistance level above at $95,630 remains to be broken, while the support level below at $92,800.01 provides a defense line.
In terms of technical indicators, the RSI value is 54.2, indicating that market sentiment is leaning towards neutral;
The ADX is only 18.41, reflecting a weak current trend strength. It is worth noting that the MACD value of 94.85 remains high, suggesting that there is still bullish sentiment in the market.
However, the current trading volume is only 377.80111, far below the average level of 871.122387, raising concerns about the risks associated with low market trading activity.
If market momentum strengthens subsequently, it is essential to closely monitor price breakthroughs at resistance or pullbacks at support. Given the current shrinking volume situation, operations must remain cautious.
