$BTC Technical analysis of the BTC coin

(Bitcoin) - Weekly chart (1W)

Summary of technical indicators

1. KDJ:

Current value: 20.63

Previous value: 28.59

Interpretation: The KDJ indicator is trending downwards, suggesting weakness in momentum.

2. Bollinger Bands:

Current price: 105,803.00

Upper limit: 108,443.00

Lower limit: 105,751.70

Interpretation: The price is near the lower limit, which could indicate a possible trend reversal or continuation of the downward trend.

3. MACD:

Current value: -99.43 (below the signal line)

Previous value: -48.27 (below the signal line)

Interpretation: The MACD remains in a bearish phase, indicating that selling pressure is predominant.

4. RSI:

Current value: 29.82

Previous value: 30.41

Interpretation: The RSI is below 30, indicating that BTC is in a state of oversold, which could signal an imminent correction or reversal.

Support and resistance levels

Resistance price: 108,443.00

Support price: 105,751.70

5. Conclusion

The technical analysis of the BTC coin on the weekly chart indicates that the asset is in a downward trend, with signs of weakness in momentum and predominant selling pressure. The price is close to the support level, which could indicate a buying opportunity if a reversal occurs. The oversold state in the RSI may also indicate an imminent correction.

Recommendations

Monitoring: Keep an eye on the support and resistance levels, especially the support at 105,751.70.

Buying strategy: Consider