#TrumpTariffs
(BTCUSDT) is experiencing some short-term bearish momentum. Here are some observations:
Moving Averages (MA):
MA(7) (yellow) is crossing below MA(25) (pink), suggesting short-term selling pressure.
Price is currently below all the moving averages shown, indicating weakness.
Price Action:
The price recently rejected around the $104,900 mark and is now moving downward.
It also broke below a support level near $103,565, which could act as resistance now.
Volume and Order Book:
The order book shows 80% buy pressure, but this isn't pushing the price up, which might indicate market makers or large sellers are absorbing the buys.
Trend Analysis:
The larger trend still seems bullish over 7, 30, and 180 days, but the short-term (today's and hourly) trend is bearish.
Prediction:
If BTC does not reclaim $103,565 and continues to close hourly candles below it, it could dip further towards $102,784 or even $101,400. However, if it bounces and reclaims $103,565 with volume, it may attempt another push up.
