According to the image you sent, here is a quick technical analysis of Bitcoin vs USDT:
1. Moving Averages:
The current price is 65,182.47 USDT, with an increase of +2.89%.
The 7-day moving average (MA7) is 65,193.98 USDT, which is very close to the current price, indicating that the market is still in a relatively sideways trend.
The 25-day moving average (MA25) at 64,978.14 USDT indicates that the overall market trend is bullish.
The 99-day moving average (MA99) at 63,916.37 USDT confirms that the long-term trend is still bullish.
2. Relative Strength Index (RSI):
The Relative Strength Index (RSI 6) is currently at 50.65, which indicates that the market is neither overbought nor oversold, meaning that there is a balance between supply and demand.
3. MACD:
The MACD shows a negative value of -58.29, which indicates a relative decline in momentum, but it is not a significant decline, and the market may return to rise.
4. Volume:
There is reasonable trading volume appearing on the chart, which means that there is good activity in the market, which could support the upward trends if the trading volume increases.
In general, Bitcoin is showing a stable upward trend, with the possibility of a price increase if nearby resistance levels such as 65,839.00 USDT are broken.
