$BTC BTC/USDT Analysis:

• Current Price: 93,805.3 (-3.26%)

• EMA (7): 93,932.8

• EMA (21): 94,233.1

• EMA (99): 95,739.5

The price is below all EMAs, signaling that the current trend remains bearish.

RSI Indicators:

• RSI (14): 42.3 (neutral)

• RSI (70): 41.6 (neutral)

• RSI (30): 42.2 (neutral)

The RSI is hovering in the neutral zone, indicating no overbought or oversold conditions.

MACD:

• MACD: -0.7 (bearish, below zero)

• MACD Histogram: Red bars indicate continued bearish momentum.

The MACD is in a negative zone, confirming the bearish momentum.

Volume:

• Volume: 1,077,896 (significant volume during the recent price action)

The volume is high, suggesting that this downtrend is supported by strong selling pressure.

Stochastic RSI:

• Stochastic RSI: 30 (oversold, potential for a reversal)

• Mastoch RSI: 50.9 (neutral)

The Stochastic RSI is approaching the oversold region, suggesting a potential reversal soon.

OBV (On-Balance Volume):

• OBV: -116,070.8 (decreasing, indicating more selling than buying)

The OBV confirms the selling pressure, with more volume moving out of the market.

Support/Resistance:

• Support: 92,500 (near recent lows)

• Resistance: 94,000 (previous highs)

Strategy:

• Short Position:

• Entry: 93,805

• Stop Loss: 94,500 (above EMA(7))

• Target: 92,500 (support level)

Conclusion:

• The current downtrend is still in play as indicated by the price being below the EMAs, negative MACD, and OBV showing more selling pressure. The Stochastic RSI being near oversold conditions suggests a potential reversal, so the short position should be monitored closely.