Date: February 16, 2024, 03:53 CET

Location: A Coruña, Galicia, Spain

Indicators:

Price: 52,117.08 USDT

Variation in 24 hours: -0.01%

High in 24 hours: 52,816.62 USDT

Low in 24 hours: 49,337.34 USDT

Volume in 24 hours (BTC): 2,578

Volume in 24 hours (USDT): 132,934,420.44 USDT

EMA(7): 51,896.27 USDT

EMA(25): 50,544.59 USDT

EMA(99): 46,829.81 USDT

STOCHRSI: 45.80

MASTOCHRSI: 52.91

OBV: 387.443.04

MACD: -29.69

Possible trend:

Short-term bearish. Bitcoin price has been in a downtrend over the past 24 hours, down 0.01%. The price has been falling from the 24-hour high of 52,816.62 USDT and is currently below the EMA(7), EMA(25) and EMA(99). The RSI is also below 50, indicating a bearish trend.

Support and resistance:

Support: 51,314.00 USDT

Resistance: 52,816.62 USDT

Patterns:

Double Top – The chart shows a possible double top pattern, with two peaks at the same resistance level. This pattern may indicate a trend change to bearish.

Observations:

Trading volume has been relatively low in the last 24 hours.

The MACD is below the zero line, indicating a bearish trend.

OBV is below its recent high, indicating that selling pressure is increasing.

Conclusion:

The BTC/USDT minus chart indicates a possible short-term bearish trend. The price has been falling and is below the EMAs, the RSI and the OBV. The double top pattern can also indicate a trend change to bearish.

Recommendations:

Be careful when trading Bitcoin right now as the trend is bearish.

Consider placing a stop-loss order below the support level of 51,314.00 USDT.

Wait for the downtrend to be confirmed before taking a short position.

Disclaimer:

This analysis is for informational purposes only and should not be taken as investment advice.