๐Ÿšจ $BTC 1hr Technical Analysis

๐Ÿ“Š Moving Averages (MAs):

๐Ÿ”น Short-term trend remains bearish with the price trading below key MAs.

๐Ÿ”น However, the 200 MA indicates the long-term trend could stay intact if BTC holds above 94307.

๐Ÿ“ˆ RSI (Relative Strength Index):

๐Ÿ”ธ RSI(14) near oversold territory, signaling caution for short-term trades.

๐Ÿ”ธ No strong buy signal yetโ€”monitor for further dips.

๐Ÿ“‰ MACD (Moving Average Convergence Divergence):

๐Ÿ”ป Bearish crossover with negative momentumโ€”confirms short-term downside pressure.

๐Ÿ“Š Volume:

24h BTC Volume: 25,694.94

24h USDT Volume: $2.52B

๐Ÿ”น Volume increase suggests active trading, but not enough to push above key resistance levels.

๐Ÿ“ Support & Resistance Levels:

Support: 95600 and 94307 (200MA)

Resistance: 97873 (7MA) and $99,588

๐Ÿ“Œ Market Sentiment:

Bitcoin remains in a corrective phase with bearish pressure in the short term. However, the 200-day MA is the key to sustaining the long-term bullish trend.

๐Ÿ“‘ Trading Strategy:

Short-term Traders:

If BTC breaks below 95600, prepare for a test of 94307. Watch for bounces to retest resistance at 97873.

Long-term Investors:

Consider accumulation near the 200 MA if bullish conviction remains.