

The BTC/USDT chart reveals a strong bearish trend. Recent market movements show lower highs and lows, indicating a sustained downturn. Candlestick patterns and volume changes suggest potential opportunities and areas of caution.
The overall trend appears bearish, as indicated by a series of lower highs and lower lows.
A notable bearish engulfing pattern is visible around the 97,000 price level, signaling a strong reversal from the previous uptrend.
A doji-like candlestick is observed near the current level, suggesting market indecision and potential for reversal.
The MACD line is below the Signal line, indicating a bearish crossover supporting the recent downtrend.
The histogram is in negative territory but shows signs of narrowing, possibly signaling a weakening of downward momentum.
No significant divergences are observed between the MACD and price action.
A noticeable increase in volume accompanies the most recent price drop, supporting the validity and strength of the bearish move.
The pronounced volume spikes suggest possible institutional selling.
Overall volume supports the price movement; no contradiction is observed.
The immediate support can be seen around the 88,000 level, which needs to hold to avoid further declines.
Strong resistance at the 90,000-91,000 level where previous support existed; overcoming this level might indicate bullish sentiment returning.
These levels are critical for potential trend reversals.
Consider buying if the price forms a reversal pattern above the 88,000 level with supportive volume.
A break below 88,000 with confirming volume signals a potential continuation of the downtrend, providing a selling opportunity.
Due to current indecision near the support level, a hold approach is advised unless a strong reversal signal emerges.



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Secured By SSL. Copyright © Seekapa. All rights reserved. 2024
Company Information: This website (www.seekapa.com.com/) is operated by Bluepine Ltd, a Seychelles investment firm, authorised and regulated by the Financial Services Authority of Seychelles with license number SD183. Bluepine Ltd is located at Suite 205, 2nd Floor, Waterside Property Limited, Eden Island, Seychelles
Risk warning: Contracts for difference (‘CFDs’) is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to, the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Please read our Risk Disclosure document.
Regional Restrictions: Bluepine Ltd does not offer services within the European Economic Area as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.
Bluepine Ltd does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Bluepine Ltd is not a financial adviser.