Technical analysis of Bitcoin $BTC

#on the 15-minute Chart:

Current Analysis:

Current Price: BTC is trading around $58,900.

24-Hour Change: BTC has decreased by approximately 2.2% in the last 24 hours.

24-Hour Range: BTC's price fluctuated between $57,800 and $60,300 over the past 24 hours.

24-Hour Volume: The trading volume is around $25 billion.

Technical Indicators:

Oscillators: The oscillators are currently neutral, indicating no strong momentum in either direction.

Moving Averages: The moving averages suggest a strong sell, indicating bearish sentiment in the short term.

Support and Resistance Levels:

Immediate Support: $57,800

Immediate Resistance: $60,300

Next Support Level: $56,500

Next Resistance Level: $62,100

Volume Comparison:

24-Hour Trading Volume Comparison: The 24-hour trading volume has decreased compared to the previous day, indicating a negative change in trading activity.

Market Outlook:

Given the current market conditions, the price of BTC is likely to test the support level first before making any attempt to break the resistance. The bearish indicators from the moving averages and the neutral oscillators suggest that downward pressure might continue in the short term.