๐ BTC/USDT Analysis
Price: 117,652 USDT (โ1.13%)
๐งพ Technical Summary (12H TF):
๐ป BTC is still moving in a descending triangle pattern โ bearish signal.
๐ธ Price is below MA(7) & MA(25) โ selling pressure remains dominant.
๐ Negative MACD, no signs of trend reversal yet.
๐ Strong support in the 115K โ 113K USDT area
๐บ Strong resistance around 118.5K โ 120.6K USDT
๐ Fibonacci Retracement Levels:
๐ถ๏ธ 0.382: 115,443
๐ถ๏ธ 0.5: 116,956
๐ถ๏ธ 0.618: 118,469
๐ถ๏ธ 0.786: 120,623
๐ Volume is decreasing โ minimal push for upward breakout.
๐ฏ Conclusion:
โ Short-term sentiment: Bearish to neutral
โ Potential decline if it fails to hold above 115K.
โ Upward reversal only if it breaks through and holds above 118.5K.
๐ Stay alert, use stop loss, and watch the volume!