Technical Analysis BTC/USDT Chart - June 10
đ Price Trends and Candlestick Patterns
Price trend: Down from $72,144.00 to $69,491.30 after a strong increase. Candlestick pattern: Shows indecision, may continue to decrease or reverse.
đ Trading Volume
Volume decreased during the consolidation phase, possibly preparing for a strong move.
đ Fibonacci Retracement Level
0.236 Level: $69,287.40 0.382 Level: $68,933.30 0.5 Level: $68,774.50 0.618 Level: $68,615.70 0.786 Level: $68,143.80
đ Current Price and Resistance
Current price: $69,491.30, just above the 0.236 Fibonacci level ($69,287.40).Resistance: 0.5 and 0.618 levels at $68,774.50 and $68,615.70.
đ Indicator
Bollinger Bands: Price near the middle band, potentially volatile. MACD: Downward momentum is decreasing, could reverse. Stochastic RSI: Near oversold zone, could be a buying opportunity.
đ Conclusion
Bitcoin is in a consolidation phase. Fibonacci levels are key support and resistance points.
đ Recommended:
Entry: $69,491.30 (current price)
TP: $70,550
SL: $68,933