This is the BTC 1day chart .
Moving Averages
MA(7) (Yellow): 59,736.33
MA(25) (Pink): 62,843.71
MA(99) (Purple): 65,394.62
The price is currently below all three moving averages (MA7, MA25, and MA99), indicating a bearish trend in the short to medium term.
Key Levels
Last Price: 56,522.424h
High: 57,000.024h
Low: 53,870.4
Technical IndicatorsVolume: 56,282.6940 (relatively high, indicating significant trading activity)
MACD: Negative, with MACD line below the signal line, suggesting bearish momentum.
Based on the current bearish trend and the technical indicators:
Short-Term: The price might continue to test lower levels, especially if it breaks the recent support around 52,004.76.And there's a chance that prices move upward for a short period upto 57500 to 58200.
Huge resistance at 58200
Medium-Term: Watch for potential reversal signs, such as the price breaking above the 7-day moving average or a positive crossover in the MACD.
