Bitcoin (BTC/USDT) is facing resistance at 69K. The RSI is pointing to possible overbought conditions, while the MACD is showing possible slowing momentum. With current volume, consolidation is possible in the coming days. Investors should be cautious when opening new positions at these levels. Watch for a break of key support and resistance levels! #BinanceTurns7 #BTC☀ #криптотрейдин #трейдинг
1. Bollinger Bands: Bitcoin is trading at the top of the Bollinger Bands, which points to possible resistance around 69,000 USDT. The middle line at 67,783 USDT may act as support.
2. RSI indicators:
• RSI(6) = 58.11, RSI(12) = 62.63 and RSI(24) = 63.49 are still in the overbought zone, which may indicate that buyers still prevail, but the strength of the movement is weakening.
3. MACD: The MACD reading indicates bullish momentum but there is a possibility of a reversal as the histogram has started to decline and the MACD and signal lines are close to each other.
4. Trading Volume: Volume shows average activity, which may indicate current price consolidation.
5. Stochastic RSI: A reading around 47 indicates that the market is not in the oversold zone, but does not show strong momentum for further growth in the near future.
