$BTC /USDT

The chart above shows a 4-hour candlestick chart of a cryptocurrency on Binance. Currently, the price is trading around the 61,656.64 mark, having retraced from the recent high of 63,861.76. This decline appears to be finding support near the 61,656.64 level, which has been tested a few times as seen in the recent price action.

Key resistance can be identified at the recent high of 63,861.76. This level was reached following a strong bullish move, but the price was unable to sustain above it, leading to a pullback. If the price manages to break above this resistance, it could signal a continuation of the bullish trend.

The moving averages on the chart indicate that the short-term MA (7-period) is above the medium-term MA (25-period), and both are trending upwards, suggesting a bullish momentum. The 99-period MA, currently at 63,111.51, could act as dynamic resistance in the near term.

Volume analysis shows a significant spike in trading activity during the recent bullish move, indicating strong buying interest. However, the recent decline is accompanied by lower volume, suggesting the pullback might be temporary.

Overall, traders should watch the 61,656.64 support level closely, as holding above it could lead to a retest of the 63,861.76 resistance. A break above this level could propel the price higher, while failure to hold support might lead to further downside.#US_Inflation_Easing_Alert #MiCA #IntroToCopytrading #VanEck_SOL_ETFS #ETH_ETFs_Approval_Predictions