Current price: BTC is trading around 96,330.77 USDT, slightly down 0.15% compared to the previous price. This decline can be seen as a short-term adjustment after a price increase.
Price volatility:
24h high: 98,130.00 USDT
24h low: 96,195.99 USDT
The trading range is relatively narrow, reflecting the market's indecisiveness in recent times.
Moving Average (MA):
MA(7) and MA(25) indicate that the price trend is trading close to the short-term MA lines. This reflects the tug of war between buyers and sellers. If the price breaks below MA(25), BTC may continue to decline in the short term.
Trading volume:
The total trading volume in 24h reached 40.281M USDT, indicating that the cash flow has not shown signs of explosion. The volume has gradually decreased in recent sessions, reflecting the cautious sentiment of investors.
Current candle: The long red candle that has formed recently may signal strong selling pressure. However, if the volume does not significantly increase, this may just be a temporary psychological effect.
Conclusion and prediction:
Short term: BTC may continue to adjust towards support near 95,000 USDT, where new buying pressure may emerge.
Medium term: If it exceeds the threshold of 98,000 USDT, BTC has the potential for a strong recovery and to test the level of 100,000 USDT.
Market sentiment at this time depends on macroeconomic factors and news related to the cryptocurrency industry. Investors should be cautious, closely monitor technical signals, and manage risk appropriately.