$BTC
· Current Price: 89,970 USDT
· 24h Change: -2.13% (Decline)
· Short-term MA(7) is above MA(25) but below MA(99), indicating short-term strength but medium-to-long-term adjustment
· Trading Volume: Moderate level, no significant increase
Technical Analysis
1. Candlestick Pattern:
· Current price is near the lower end of the recent consolidation range (approximately 89,000 - 92,000)
· 4-hour chart shows price fluctuating around MA(7), with short-term support
2. Moving Averages System:
· MA(7): 91,585.06 (Price has broken below)
· MA(25): 88,748.72 (Current price slightly above)
· MA(99): 98,910.14 (Still above, acting as resistance)
· Short-term moving averages show signs of downward turn
3. Trading Volume:
· 24h volume: 15,930 BTC, considered moderate to high
· Current volume bar shows no clear breakout or sharp decline
Key Levels
· Support Levels:
· 89,641.84 (24h Low)
· 88,748.72 (MA25)
· Resistance Levels:
· 91,585.06 (MA7)
· 92,299.40 (24h High)
Short-term Trend Outlook: Slightly Bearish in Range-bound Market
· Reasons:
1. Price has broken below short-term MA(7)
2. 24h close down by -2.13%, market sentiment weak
3. MA(99) still above, medium-to-long-term trend not yet turned bullish
4. Order book shows slightly higher sell pressure (56.18% sell vs 43.82% buy)
Trading Recommendations
· If holding a position: Monitor support at 88,750; a break below may lead to further downside
· If considering entry: Wait for price to break above MA(7) or stabilize above 90,000 before going long
· Risk Warning: Currently near the lower end of the consolidation range; a volume breakout below 88,750 could trigger a new downtrend
