So, let's take a look at this chart. We are seeing a clear drop in the price of Bitcoin (BTC/USDT) and at the time of the screenshot it reached 65,836.03, which is a decrease of 1.69%. We can see that the last candles are quite red, which confirms the current downtrend.
Moving Averages (EMA):
EMA(7): 66,220.43 - this line shows that the short-term move is directed downwards, following a more aggressive decline.
EMA(25): 66,739.44 - the average continues to fall and serves as a resistance level from which the price can bounce down.
EMA(99): 67,387.08 - the long-term moving average also points to a downward trend, which confirms the selling pressure in the market.
MACD:
We see that the MACD (currently at -80.60) is deeply in the negative zone, and the histogram continues to decline. This signals a strong bearish momentum, and it will be difficult for the bulls to turn the situation around.
Support and Resistance Levels:
The immediate support is at 65,801.00. If the price breaks below this level, we may see further decline towards 65,461.73.
Resistance is around 66,876.30. In case of a rebound, the price may test this level.
Volumes:
Trading volumes remain low, confirming the lack of serious buyer support at this stage.
Bottom line: The market remains under pressure and the current downtrend is still in place. Unless there is a significant increase in buying volumes or some positive news background, the price is likely to continue to decline.
Now it is better to observe the development of the situation and, perhaps, wait for clearer signals for a reversal or at least a fixation of the current downward trend.
