BTC/USDT Breaking Up After Finding Support at ~93,444 and Rebounding Strongly
1. Short-Term Uptrend:
The 7-period moving average (yellow line) has just crossed above the 25-period moving average (magenta line), a classic sign of positive momentum.
The price remains above both, reinforcing the pattern of higher lows and higher highs.
2. Increasing Volume on Upside:
The green volume bars increase as the price rises, indicating that the upside is supported by real demand.
On the last bullish candle, the green volume exceeds the previous red volume, suggesting more buyers are entering.
3. Resistance and Possible Pullback:
The intraday high at 95,461 acts as immediate resistance. Watch to see if the price breaks through it with volume or, failing that, if it pulls back to the MA(25) at ~94,800 to buy back.
4. Market Sentiment:
The order book shows 70% demand vs. 30% supply, which supports the bullish continuation.
Strategy?
Breakout: If 95,630 is broken with volume, you could look for upside scalps.
Safe Pullback: A pullback entry to the MA(25) (~94,800–95,000) with a stop just below the MA7.
In short, BTC is "on fire" in the 15-minute period, with a clear momentum structure. It remains to be seen if the resistance gives way before a technical pullback.
$BTC
BTC
94,861.22
-0.52%
