#bitcoin In the photo is the trading chart of the BTC/USDT pair with a 15-minute time frame. The current price of BTC is 69,964.2 USD, an increase of 3.32% compared to the marked price. Within the past 24 hours, the highest price of BTC reached 72,132.8 USD and the lowest price was 67,625.2 USD, showing quite strong fluctuations.

Observe moving averages (MA) with different periods:

- MA(7) is 70,138.5 USD.

- MA(25) is 70,807.5 USD.

- MA(99) is 70,396.4 USD.

The MA lines show that the short-term and medium-term trend of BTC is trending down as the current price is below all the MA lines. This could signal a price correction or a short-term price drop.

Trading volume (VOL) spiked at some times, especially around 20:45 on May 21, 2024, showing strong participation of investors during this period. This may reflect large, influential buys or sells

Additionally, indicators on longer time frames also show growth:

- 7 days: increase 10.80%

- 30 days: increase 8.12%

- 90 days: increased 36.04%

- 180 days: increased 91.84%

- 1 year: increased 160.34%

These numbers indicate that, despite short-term volatility, BTC is still on a strong long-term growth trend.

In the short term, investors need to be cautious as BTC price may continue to correct. If the price breaks the nearest support levels, specifically around 69,722.0 USD, a deeper decline is likely. However, if BTC overcomes the resistance on the MA lines, especially the MA(99) at 70,396.4 USD, it is possible that the price will rebound and continue the long-term uptrend.

In short, be careful when reversing :) $BTC