The #BTC /USDT chart reflects a bullish trend, with a 4.16% increase (+2,416.88 USDT) and a current price of 60,499.71 USDT. Here's a breakdown of the key indicators:
1. Moving Averages (MA): Price is above short-term MAs (7 & 25), supporting the uptrend. Resistance at MA(99) of 61,595.83 could limit further gains unless broken.
2. Volume: High at 480.52545, confirming trend strength.
3. RSI (72.44): Overbought, suggesting a potential pullback.
4. MACD: Bullish divergence supports continued upward momentum.
Prediction:
Bitcoin's price is likely to continue its rise, testing the MA(99) resistance at 61,595.83. If it breaks through, expect further bullish action, but if rejected, a pullback is likely due to the overbought RSI. Short-term gains are possible, but caution is advised near resistance levels.
