

The 4-hour chart of Bitcoin against TetherUS shows recent price action characterized by resistance at the 89,000 level and support around 87,000. The technical indicators point towards a bearish momentum in the short term. Traders should take note of key levels for potential reversals.
The recent chart displays a series of bearish candles near the 89,000 area indicating selling pressure.
The overall trend remains sideways with a bearish bias due to unsuccessful breakouts above highs.
The level at 89,000 serves as a breakout zone, while 87,000 acts as a support area.
The MACD line has crossed below the Signal line, indicating bearish momentum.
With the MACD histogram in the negative, a reduction in bullish momentum is evident.
No divergence between MACD and price action confirms the current bearish sentiment.
A rise in volume during price declines supports the bearish trend.
The volume aligns with the bearish movement, particularly during recent sell-offs.
There were noticeable volume spikes in recent drops, hinting at possible institutional selling.
Resistance is strong at 89,000, preventing the price from sustaining gains.
Support is identified around 87,000 where buying interest provides a price floor.
The 87,000 level acts as a critical support in maintaining price stability.
Consider shorting or selling if the price tests resistance at 89,000 and begins to reverse.
Look for buying opportunities near the support level at 87,000 if there is evidence of reduced selling pressure.
Monitor for a breakout above resistance or below support with sustained volume for confirmation.



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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.