The image shows a 1-day (1D) chart analysis of the BTC/USDT pair via a Binance app. Here are the highlights:
Price and Volume
Current Price: 98,082.31 USDT
24-Hour Change: -4.43% (down)
24-Hour High Price: 103,550.00 USDT
24-Hour Low Price: 90,500.00 USDT
Volume (BTC): 79,057.27
Volume (USDT): 7.85B
Moving Averages
EMA (7): 97,062.78 (short-term direction)
EMA (25): 92,546.71 (medium-term direction)
EMA (99): 77,341.00 (long-term support)
Technical Indicators
MACD: -695.73 (in negative territory, bearish trend possible)
DIF: 4,010.15
DEA: 4,705.88
Volume Bars: A significant increase in volume is observed in the bearish candle, indicating increasing selling pressure.
Chart Comment
1. Trend: Although the chart is generally in an uptrend, the current decline can be evaluated as profit taking or a pullback from the resistance zone.
2. Support and Resistance: The 91,899.08 area appears to be an important short-term support. The 104,088.00 level is a strong resistance.
3. Moving Averages: EMA(7) is just below the price and can act as strong support. However, EMA(25) and EMA(99) stand out as more solid support levels.
4. Volume: The increase in volume occurred while the price was falling. This may indicate increasing selling pressure among market participants.
General Assessment
The BTC/USDT pair currently appears to be experiencing a correction. In the short term, it will be important to see if it can maintain the support levels. If the support levels are broken, a deeper correction may be seen. However, if there is a recovery from this level, the price may return to the uptrend.