Lately, the BTC/USDT market has been attracting the attention of traders, primarily due to dynamic price movements and important technical levels. Let's look at the current situation on the chart and analyze what factors may affect the further movement of the rate.
Technical analysis
1. Horizontal resistance at H4
BTC's recent pullback from horizontal resistance on the four-hour chart (H4) raises questions about the strength of the current uptrend. This resistance level may become key in determining further price movements.
2. Maintaining a position above MA 200
An important point is the current attempt to maintain a position above the moving average MA 200. This can serve as an indicator of the strength of the bulls in the market.
3. Potential Downward Move
A break below the MA 200 could signal a possible downside move. In this case, traders' attention will be drawn to horizontal support, where the Ichimoku cloud also provides additional support.
4. Confirmation of the bullish trend
A successful rebound from the horizontal support level, combined with a breakout above the horizontal resistance, can serve as confirmation of a bullish trend.
Conclusion
The current situation in the BTC/USDT market provides traders with interesting opportunities to predict price movements. Monitoring horizontal resistance and support levels, as well as monitoring price action relative to the 200 MA, will help traders make informed decisions.
As always, the cryptocurrency market is subject to sudden changes, so traders should monitor the news and respond to changing situations.
