$BTC /USDT Shows Resilience Near Key Levels—Will the Bulls Regain Control?

The BTC/USDT 1-hour chart exhibits a recent price dip from $61,400, testing support around $58,861. The Bollinger Bands (BB) suggest consolidation with the price hovering near the middle band, indicating a neutral stance. The 5-day and 10-day moving averages are flattening, hinting at potential price stabilization.

Volume analysis shows a significant spike during the recent drop, indicating strong seller activity. However, the RSI hovers around 51, suggesting that momentum is balanced, neither overbought nor oversold. The MACD is below the signal line but shows signs of potential crossover, which could imply an upward shift if bulls regain strength.

This consolidation phase is critical—if the bulls push through $60,333 resistance, we might see another rally, but failure to do so could retest lower support levels.