On the BTC/USDT chart, we observe that the price of Bitcoin has reflected strong horizontal resistance. This is a level where selling pressure has been noticeable in the past. As a result of this rebound, the MACD crossover has lost bullish momentum, which may indicate weakening bullish sentiment in the market.
However, the Ichimoku cloud, which is a complex indicator, continues to act as support for the rising trend line. This may signal that the bullish trend in the market is still in place.
A possible scenario would be to retest the rising trendline to ensure its strength and confirm the presence of a bullish move. In this case, a confident breakthrough of horizontal resistance will be additional confirmation of the upward movement and may open the way for further price growth.
However, it is important to monitor further developments of the situation. If the price fails to overcome the horizontal resistance and continues to decline, this may indicate a change in market sentiment and a possible price decline.
Overall, the $BTC /USDT analysis shows that the current situation requires careful monitoring. Traders should monitor Bitcoin price developments and resistance levels to make informed decisions about their trading strategies.
