On the BTC/USDT 1-hour chart, BTC recently hit a high of $77,199.99 but has since pulled back to around $76,268.01. Resistance is visible around the $77,000 mark, and the price is now trading near the lower end of this recent range.
Moving Averages:
The short-term MA (MA 5) is above the MA 10 but is flattening, signaling a potential loss of upward momentum or consolidation.
A bearish signal may appear if the MA 5 crosses below the MA 10, which would imply short-term downside risk.
RSI:
RSI is around 44.50, below the neutral 50 level, indicating weak buying pressure.
Although not in oversold territory (below 30), the RSI leans toward bearish sentiment.
Prediction: The trend appears cautious. If BTC fails to break back above resistance or the RSI weakens further, downside is possible.
Trading Signals:
Bearish Signal: If the price breaks below the recent low of $75,630.76, it could trigger a short trade opportunity, with a stop just above $76,700.
Bullish Signal: If BTC rises and breaks above $77,000 with strong volume, it could indicate an uptrend continuation.