$BTC has retraced after a recent local increase. Let's break down the key points:
1. Current levels
• Resistance: The level around 98,334 (MA 25) continues to pressure the price. The price has not been able to hold above this level.
• Support: Local support at around 97,336 is currently holding, but a retest may pose a risk.
2. Indicators
• MACD: Downward momentum is increasing, the histogram shows a decline. This indicates rising pressure from sellers.
• RSI (6/12/24): The RSI is in the zone around 38–35, which is closer to oversold, but not at a critical level yet. This may suggest that the decline could continue, but a rebound is possible upon reaching lower levels.
• MA (7, 25, 99): Short-term and medium-term moving averages (MA) are trending down, indicating weakness in the current trend.
3. Volumes
• A decrease in buying volumes may indicate insufficient support from buyers, increasing the risk of breaking the current support.
Possible scenarios:
1. Positive: If the level of 97,336 holds, a rebound is likely targeting a test of 98,334–98,600. In case of a breakout of the MA 25, the price may continue to recover.
2. Negative: If the level of 97,336 is broken, the price may move to the next support zone around 96,800–97,000.
