BTC/USDT asset analysis #cryptousdua
In this daily BTC/USDT chart we see the following key points:
Current price level: ~88,904 USDT.
Sideways: The price has been trading sideways for a long period between about 60,000 and 85,000 USDT (highlighted in purple). After that, there was a strong breakout of the resistance level around 85,000 USDT, indicating the beginning of a new uptrend.
Bollinger Bands indicator:
The upper limit is around 93,004 USDT.
The price is approaching the upper border of the Bollinger Bands, which indicates possible overbought conditions at the current level.
Parabolic SAR: Indicates a continuation of the uptrend, as the indicator dots are below the candles.
Ichimoku indicator:
The price is significantly above the Ichimoku cloud, confirming the bullish trend.
The future line (forecast cloud) is also supported, indicating strong upward momentum.
Potential levels:
Support: The level around 85.702 USDT may act as strong support in case of a possible correction.
Resistance: Levels 89.915 and 93.048 USDT are current targets, and if broken, we can expect continued growth to new highs.
Possible scenarios:
Bullish scenario: Continued growth to the level of 93,000 USDT and above if volumes and buyer activity are maintained.
Correction scenario: In case of correction, the price may return to the support level around 85,700 USDT, which also coincides with the Parabolic SAR line.
Recommendations:
Short-term traders may consider taking profits near the upper boundary of the Bollinger Bands (~93,000 USDT) or when signs of a reversal appear.
Long-term investors can hold positions based on nearby support levels and indicator trends.
Conclusion:
BTC/USDT is showing strong growth after a long period of consolidation, breaking through key resistance. Despite a possible short-term correction, the overall trend remains upward, and the price may reach new highs in the near future.
