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BTC/USDT Chart Analysis (Summary)
* Overview:
* Asset: BTC/USDT (Bitcoin/Tether)
* Timeframe: 1-Day (1D)
* Current Price: 104,667.6 USDT
* 24-Hour Change: +0.6% (Slightly Positive)
* Price Action & Trends:
* Latest: A significant pullback and downtrend is observed from the 111,980.0 level (resistance).
* Support: Around 104,667.6 and the previous 91,683.2 stand out as strong support levels.
* Resistance: 111,980.0 is a strong resistance.
* Moving Averages (MA):
* MA5 (104,898.7) & MA10 (106,741.0): Short-term moving averages are above the price and are showing bearish crosses.
* MA30 (104,458.4): The price is looking for support, approaching the longer-term MA30.
* Volume:
* The increase in volume in the previous rise and the increase in volume in the recent fall indicate the severity of the decline.
* MACD (12,26,9):
* MACD (969.1) < Signal (2,663.1): The MACD line is below the signal line, indicating continued bearish momentum.
* General Assessment:
* Short-Term Trend: A bearish trend prevails.
* Risk: A drop below MA30 and important support levels could accelerate the decline.
* In summary: BTC/USDT continues to face short-term bearish pressure. The key resistance levels (111,980) have not been breached and indicators are showing bearish signals. Traders should watch for support levels and strong buy signals for a possible recovery. I hope this more concise version meets your expectations!
Yes, price is up.
Yes, it beat many altcoins this week.
But here’s the deeper story: