Looking at the BTC/USDT chart on the 1-hour timeframe.

Bitcoin is slowly starting to crawl up to $64,280 after previously being pressed down to a daily low of $62,348.

Right now, the price is trying to test the nearest Moving Average (MA) indicator. The 24-hour trading volume is looking pretty solid at 1.10B USDT, indicating buying pressure to prevent a deeper drop.

Nearest Support: Range of $62,300 - $62,800.

Nearest Resistance: Testing the $65,200 area (dashed line on the chart).

What's your take? Is this rally a bull trap or the beginning of a reversal? Letโ€™s discuss in the comments! ๐Ÿ‘‡

#BTC #CryptoAnalysis #BinanceSquare #Bitcoin#TradingSPOT