BTC/USDT ❗️

1. **Price and Moving Averages:**

- The price is at **63,349.01 USDT**, showing a 1.27% decline.

- **MA(7):** 63,637.52

- **MA(25):** 63,756.43

- **MA(99):** 64,030.40

- The short-term moving averages (MA(7) and MA(25)) remain below the longer-term MA(99), further confirming the downward trend.

2. **Volume:** There has been a significant increase in trading volume, suggesting that sellers are still dominating the market. This selling pressure is contributing to the continued price drop.

3. **MACD:**

- The MACD line (-33.62) is well below the signal line, and both are in negative territory.

- This further confirms the bearish momentum, with no signs of a reversal at this point.

4. **RSI:**

- RSI(6): 29.17

- RSI(12): 35.60

- RSI(24): 39.82

- The RSI(6) is now below 30, indicating oversold conditions. The other RSI values are also trending towards oversold territory, which could indicate a potential for a bounce if buyers step in. However, the downward trend is still strong.

**Conclusion:**

Bitcoin continues to experience bearish momentum, with indicators showing oversold conditions but no confirmed reversal yet. If the oversold RSI results in buying pressure, there might be a short-term bounce. However, it’s essential to watch for price action around key support levels (around 63,131.99 USDT) and whether the moving averages start to flatten or reverse to signal a change in trend direction. For now, caution is still advised in entering positions.