BTC/USDT Analysis 📈
Currently, the BTC/USDT pair is priced at 71,033.14 USDT, showing a positive increase of approximately 4.95% in the last 24 hours. This significant growth could be driven by an increase in demand and renewed interest in the asset, especially given the volume of 37,108.78 $BTC in 24 hours and the high maximum price reached in this period (71,587.88 USDT).
The candlestick chart in 1-hour intervals suggests a bullish trend, where the price has consistently remained above the moving average (blue line). However, a slight pullback is already noticeable, which could indicate a possible correction after the abrupt price increase. The presence of strong support around 67,618.00 USDT, which was the low of the last 24 hours, could serve as a buffer in case the price decides to retreat further.
In the medium and long term, BTC has shown considerable appreciation: 107.27% in the last year, reflecting investor confidence and the strength of the asset in the market. Nevertheless, the high level of overbought (with 93.32% of positions in sale) indicates that many may be taking advantage of this rise to secure profits. This could result in short-term bearish pressure.
Conclusion: Although BTC is on a positive streak, with an upward trend, it is wise to monitor if it consolidates above 71,000 USDT. If it holds, the next target could be around 72,000 USDT. However, with strong selling pressure, a correction is possible, so I will be alert to support levels and a possible consolidation before another rise.
