$BTC Analysis
1. Trend:
The chart shows a clear downtrend in recent hours, with BTC dropping sharply from around 106,000 to ~101,000 USDT.
Strong bearish candles indicate heavy selling pressure.
2. Volume:
Volume has increased on the most recent drop, which usually signals strong participation in the move down.
3. RSI (14 Close):
RSI is currently at 33.05, nearing the oversold zone (30).
It has bounced around the 30-40 region for a while, showing that selling momentum is strong but approaching potential exhaustion.
4. Support & Resistance:
Current level (~101,000 USDT) is near a possible short-term support zone — prior dips have bounced around this area.
Resistance is now stacked above 102,500 - 104,000 USDT.
Current Situation:
Bearish trend remains dominant on 1-hour timeframe.
RSI is near oversold, suggesting a possible short-term relief bounce or sideways consolidation.
If current support breaks (~101,000 USDT), next psychological level to watch is 100,000 USDT.
Outlook:
For short-term traders: wait for bullish confirmation before entering long, as trend is still weak.
For trend-followers: bias remains bearish until BTC breaks back above 104,000-105,000 with volume.