$BTC BTC/USDT
1. Overall Trend (Price Action):
BTCUSDT shows selling pressure with a decline of around 3.62% in the past 24 hours.
The last price is around 100,995 USDT, below key moving averages such as MA7 (103,184) and MA25 (104,409), indicating a potential bearish trend in the short term.
2. Key Indicators:
RSI (Relative Strength Index): At 25.6, approaching the oversold zone, suggesting that the price may be searching for a reversal point.
Stochastic RSI: Also in the oversold area (43.2), signaling a potential short-term rebound.
Bollinger Bands: The price is near or breaking below the lower band, showing strong selling momentum but with a possibility of a corrective bounce.
3. Volume:
On-Balance Volume (OBV) shows a decline, indicating dominant selling pressure.
Trading volume remains active, indicating strong market participation.
4. Key Levels:
Support:
Strong support is around 98,740 USDT (the previous daily low).
If this level breaks, the next support target is around 96,000 USDT.
Resistance:
Immediate resistance is around 103,000 USDT (MA7).
Major resistance is at 105,343 USDT (the previous daily high).
5. Potential Entry Strategies:
Buy Entry:
Wait around the support area at 98,700–99,000 USDT, with a take-profit target around 103,000–105,000 USDT.
Sell Entry:
If the price fails to break above the 103,000 USDT resistance, enter a sell position targeting 99,000–98,000 USDT.
6. Supporting Indicators:
SAR Parabolic: A downtrend is still active; watch for reversal confirmation when the SAR dots start appearing below the price.
MACD: Negative histogram indicates dominant bearish pressure, but there’s a chance of positive divergence if momentum weakens.
Conclusion: In the next 24 hours, watch for the 98,700 USDT level as the main support. If it holds, there’s a good chance for a rebound toward the 103,000 USDT resistance. However, if this support breaks, continue with a bearish strategy targeting new support levels.