1-month BTC/USDT , we will look at the key indicators and price action.

Support and Resistance Levels:

1. Resistance Levels:

• 73,777.00: The chart shows that this level has acted as a strong resistance point where the price was unable to break through.

• 67,604.99: This is the current price level, indicating some resistance at this point as it is close to the recent high.

2. Support Levels:

• 51,413.77: This level has acted as a significant support point in the past, where price action shows a bounce.

• 25,519.49: Another lower support level based on previous price action.

Trend Analysis:

• Price Action: The chart shows a clear uptrend with higher highs and higher lows.

• Moving Averages:

• The yellow line (shorter-term MA) is above the purple line (longer-term MA), indicating a bullish trend.

• The price is above both moving averages, reinforcing the uptrend.

• Indicators:

• MACD: The MACD line is well above the signal line, indicating strong bullish momentum.

• RSI: The RSI values are above 70, indicating overbought conditions but also strong upward momentum.

• Stochastic Oscillator (K, D): The K and D lines are in the overbought territory, suggesting potential consolidation or correction.

• Williams %R: It is close to -10, indicating overbought conditions.

Summary:

• The chart is currently in a strong uptrend with price making higher highs and higher lows.

• The next significant resistance is around 73,777.00, with the current level at 67,604.99 acting as a minor resistance.

• The support levels to watch are 51,413.77 and 25,519.49.

• Despite the strong uptrend, overbought indicators (RSI, Stochastic, Williams %R) suggest that a short-term correction or consolidation might occur before the next leg up.

In conclusion, the overall trend for BTC/USDT on the 1-month chart is bullish with strong upward momentum, but traders should be cautious of potential short-term corrections due to overbought conditions.$ETH $BTC #BTC☀