$BTC

BTC/USDT:

Daily Chart:

On the daily chart, BTC/USDT exhibits an overall uptrend, confirmed by trading above the 200-day moving average. However, the recent price decline may indicate a correction or consolidation before further movement. Candlestick patterns such as the “bullish engulfing” may suggest a potential resumption of the upward movement.

4-Hour Chart:

On the 4-hour chart, BTC/USDT recently broke through a short-term descending trendline, which could indicate a potential resumption of the upward movement. However, for confirmation, the price needs to consolidate above the resistance level of 98,000 USDT. Candlestick patterns like the “bullish engulfing” can confirm this trend.

1-Hour Chart:

On the 1-hour chart, bullish candlestick patterns such as the “bullish engulfing” are forming, which may indicate short-term price growth. However, for confirmation, it is necessary to overcome nearby resistance levels and consolidate above them.

Overall Conclusion:

While there are signs of a potential resumption of the upward movement, it is recommended to wait for confirmation in the form of price consolidation above key resistance levels before opening long positions.