Full commentary on the $BTCUSDT Perpetual Short chart
$BTC
The $BTCUSDT chart shows the current price of Bitcoin on a 4-hour time frame with Ichimoku Cloud, SMA (Simple Moving Average), and trading volume indicators. Below are key aspects of the schedule and the current situation:
General situation on the chart:
Price: 66773.01 USDT.
Range of Movement: There is a clear range of resistance around 73000 and support around 61000.
Volumes: Trading volumes show increased activity, which may indicate strong movements in the market.
Technical analysis:
Ichimoku Cloud indicator:
Kijun-Sen (Blue): 69149.71
Tenkan-Sen (Red): 66706.45
Senkou Span A and B: The upper and lower boundaries of the cloud indicate support and resistance levels. The current price is below the cloud, which is a bearish signal.
SMA indicator:
AND (7): 66547.23
MA (25): 67459.34
MA (99): 69024.01
The current price is below all three moving averages, which also confirms the bearish trend.
Parabolic SAR indicator:
The indicator is above the current price, which also confirms the downward trend.
MACD: The MACD indicator is below the zero line, which indicates a continuation of the bearish trend.
Main levels:
Resistance: 73000 USDT
Support: 61000 USDT
Conclusion:
Bitcoin price is showing a bearish trend with the current price below major indicators and strong trading volume. The price is testing the support level around 61,000 USDT, and a break of this level could lead to further decline in the price.
