#BTC Trend Analysis 📉
📉 Recent Decline: From January 7 to January 8, BTC experienced a noticeable downward movement, with the current price hovering around 95,000.
🚫 Previous Rebound High: Prior to the decline, BTC had rebounded to nearly 100,000 but failed to maintain its upward momentum.
Moving Averages Analysis 📊
⚠️ Short-term MA (MA7, pink) turning downward: The short-term moving average has started to slope downwards, forming a death cross with the mid-term MA (MA25, purple), indicating continued short-term downward pressure.
😐 Mid-term MA (MA25) flattening out: The mid-term MA is stabilizing but showing slight signs of turning downward.
👍 Long-term MA (MA99, blue) slowly rising: The long-term moving average continues to slope upward, suggesting that the overall trend remains bullish despite the current short-term correction.
Support and Resistance 🚧
🛡️ Support Level: The recent support level is around 93,000 (as indicated by the marked low of 91,320.58).
🏔️ Resistance Level: The short-term resistance lies between 97,000 and 98,000, with further resistance near 100,000.
Technical Signals 🚀
🔄 Potential Rebound: Since the death cross has formed and the price is below all major moving averages, BTC may continue to show weakness in the short term. If the price stabilizes around 93,000 with increased trading volume, it could signal a potential rebound to retest resistance levels.
