At 10:45 AM, Bitcoin (BTC/USDT) was trading at $113,546.17, showing a -0.37% change over the past 24 hours. The price touched a 24h low of $111,920.00 and a 24h high of $114,040.29, reflecting some decent market activity within this range.
Chart Overview (15-Minute Timeframe)
Looking at the 15-minute chart, BTC appears to be in a short-term uptrend. After hitting the low at $111,920.00, the price climbed consistently, peaking around $113,740.69. The green candles dominating this period indicate strong buyer interest and a healthy bounce from support.
Technical Indicators:
Moving Averages:
MA(5): 40.76
MA(10): 60.31
The short-term MA(5) crossing below MA(10) earlier suggests some consolidation, but the overall movement looks steady on the upside.
MACD Analysis:
DIF: 169.00
DEA: 179.12
MACD: -10.12
The MACD is currently negative, signaling a possible slowdown or minor correction, despite the upward price action. This is something traders should watch closely.
Volume:
The trading volume fluctuated through the session, showing bursts of activity at certain levels. While not extremely strong, the volume is healthy enough to support small upward moves.
Conclusion:
Bitcoin is showing bullish momentum after rebounding from a solid support zone at $111,920. If it maintains its pace, we could see a breakout above $114,000 in the short term. However, MACD suggests some caution as momentum might be weakening.
Advice for Traders:
If you're planning to enter a position, wait for confirmation from the next few candles. Short-term traders may find opportunities here, but it's recommended to use a tight stop-loss and stay updated with price movements.$BTC
