$BTC /USDT

BTC/USDT Spot and Resistance Analysis

Bitcoin (BTC) against Tether (USDT) on Binance is showing interesting movements on the 4-hour chart. Currently, BTC/USDT is trading at $57,689.99. The chart indicates a recovery from the recent low of $53,485.93.

Key resistance levels to watch include:

1. $59,618.37: The nearest resistance, marked by previous highs.

2. $62,863.84: A stronger resistance level, representing a significant previous high.

Moving averages (MA) provide additional insight:

- MA(7): 56,908.09

- MA(25): 56,882.41

- MA(99): 60,066.61

The price is currently above the 7 and 25-period moving averages, suggesting short-term bullish momentum. However, it remains below the 99-period moving average, indicating that long-term bearish trends are still in play.

Volume trends show a recent increase, signaling higher trading interest and potential for volatility.

Support levels include:

- $56,372.91: A minor support level.

- $53,127.44: A stronger support level that has been tested multiple times.

Overall, BTC/USDT appears to be in a consolidation phase, with potential for further upward movement if it breaks the immediate resistance at $59,618.37. Traders should monitor volume and moving averages for confirmation of any trend continuation.#BTC_Bounce_Back_to_57k #Ton_Coin_Surge #BinanceTurns7 #SOFR_Spike #US_Job_Market_Slowdown