$BTC

The hourly price movement of BTC/USDT, along with indicators like moving averages (MA) and RSI.

Observations:

1. Trend:

The price recently rebounded from a low of around 94,877.17 and is now trading at 96,769.46.

A consolidation phase is visible after a recent drop, with the price forming smaller candles near the current level.

2. Moving Averages:

MA(7) (yellow) is crossing MA(25) (purple) upwards, signaling a potential short-term bullish momentum.

MA(99) (pink) is flat, indicating a lack of clear long-term trend at the moment.

3. Support and Resistance:

Support: 94,877.17 (recent low) and 92,520.00 (stronger support).

Resistance: 97,606.53 (local high) and 99,963.70 (recent peak).

4. RSI:

RSI(6) is at 61.29, suggesting momentum is leaning bullish but not overbought.

5. Candlestick Patterns:

Recent candles show indecision with smaller body sizes, suggesting price consolidation. A breakout above or below this range could signal the next move.

Potential Actions:

Watch for a breakout above 97,606.53 for a bullish continuation.

Monitor for a drop below 94,877.17 for bearish signals.