#BTC

Chart Analysis for BTC/USDT

1. Bollinger Bands:

Upper Band (107,761.33): The price recently approached the upper band, signaling selling pressure.

Middle Band (105,263.80): Currently, the price is below the middle band, indicating a weakening momentum.

Lower Band (102,766.28): If the price declines further, it may test this level as a support.

2. Current Price Status:

The latest price (104,507.99) is slightly below the middle band, reflecting a market retracement.

After reaching the recent high (108,353.00), a clear downward trend emerged, showing increased selling pressure.

3. Support and Resistance Levels:

Resistance (107,761.33): If the price rises again, this level could act as the first resistance.

Support (102,766.28): The lower band serves as a strong support point.

4. Volume:

Volume increased after December 11, indicating a rise in trading activity.

Recent candlesticks show higher selling volume, reinforcing bearish sentiment.

Future Outlook

If the price hovers around 104,500, it may test the 102,800 support level in the short term.

The middle and upper Bollinger bands will act as resistance levels.

If volume remains low and price approaches the support zone, further downside movement is likely.

Upside Condition: The price must break above the 105,500 resistance to trigger upward momentum.

Conclusion:

Short-Term Movement: Signs of a bearish trend are visible.

Strategy: Monitor key support levels closely and watch for an increase in trading volume.