**BTCUSDT Perp Analysis (15m Chart) - Potential for a Major Correction?**
📅 **Date & Time**: May 21, 2025, 10:31 AM CET
📈 **Current Price**: $106,335.0 (+1.01%)
Based on the 15-minute chart for BTCUSDT Perp on Binance:
- **Price Movement**: The price has recently dropped from a high of $107,500.0 to $106,335.0, signaling the start of a short-term correction after a failed attempt to sustain the upward momentum.
- **Moving Averages (MA)**: The price is below MA(25) at $107,017.0, which now acts as resistance, while MA(7) at $106,414.1 is close to the current price, and MA(99) at $106,100.2 provides support below. This breakdown below MA(25) suggests weakening bullish momentum.
- **Volume**: Trading volume stands at 1.672M, with a noticeable increase in red bars (selling pressure), indicating stronger bearish activity recently.
- **Technical Indicators**: The EMA (yellow) and MA (purple) lines are diverging downward, and the MACD histogram shows increasing red bars, confirming short-term bearish momentum.
**Support & Resistance**:
- **Support**: Immediate support at $106,146.9, with a stronger level at $105,666.5.
- **Resistance**: $107,017.0 (MA(25)) and $107,561.4 are key levels to watch if bullish momentum returns.
**Analysis**: The chart suggests a high likelihood of a larger correction. The recent failure to hold above $107,500.0, combined with increased selling volume and bearish signals from the MACD, points to a potential deeper pullback. If the price breaks below $106,146.9, we could see a move toward $105,666.5 or lower in the near term.
Traders should monitor these levels closely and watch for any reversal signals or news that could shift market sentiment. Stay cautious! 🚨
