Moving Averages (EMA):
- EMA 7 at 61,984 represents the short-term trend. The current price is close to this level, indicating that the market is in a period of volatility around this average.
- EMA 25 at 60,752 represents the medium-term trend. A price crossing above or below this average may signal a trend change.
- EMA 99 at 45,753 represents the long-term trend and acts as a major support. The price is far from this average, indicating that the long-term trend is still up.
Moving average analysis:
When the price is above EMA 7 and EMA 25, it indicates an uptrend. However, if the price breaks EMA 7 and starts trading below it, it may be a sign of weakness in the current uptrend.
MACD Indicator:
- MACD at 1,825.54 indicates the difference between moving averages and is considered a momentum indicator.
- The fast line (DEA) below the signal line indicates that the downward momentum is currently strongest.
- Negative values indicate a weakening of the upward momentum and may be the beginning of a bearish phase.
MACD Analysis:
A negative MACD crossover indicates a possible decline in bullish momentum, however, this indicator should be monitored along with other indicators to confirm that a reversal is actually occurring.
Stochastic RSI Indicator:
- StochRSI at 24.80 indicates that the market may be in an oversold zone, and thus an upward bounce may be imminent.
Stochastic RSI Analysis:
The indicator's proximity to the oversold zone may indicate that the market is at the end of the bearish phase, and we may witness an upward rebound in the coming days. But this rebound needs confirmation from other indicators.
Candles and general analysis:
Looking at the recent candles, it is clear that the market is facing strong resistance around the 73,777 level. If the price fails to break this resistance, it may face additional selling pressure. The current support is at 36,721, and if broken, it may lead to a larger decline.
Key levels of monitoring:
Support at 60,752 (EMA 25) and 36,721 (strong support).
Resistance at 73,777.
If you are planning to trade in the short term, it is advisable to watch the EMA and MACD crossovers carefully, as they may indicate the beginning of a corrective movement or a continuation of the current trend. In the long term, as long as the price is above the EMA 99, it can be considered an uptrend. It is advisable to wait for the trend confirmation using the above-mentioned indicators and levels before making any trading decisions.$BTC
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