Based on the BTC/USDT price chart, there are a few points to note:

1. Short-term trend

- BTC has made a strong recovery after bottoming out at around 48,888 USDT and is currently trading around 61,631 USDT.

- The RSI (14) has risen and crossed above 60, indicating that buying pressure is increasing, but has not yet reached the overbought zone (above 70).

- The short-term EMAs (EMA 9 and EMA 50) are gradually moving up, which could signal the start of a short-term uptrend if the price holds above these lines.

- Trading volume also shows signs of increasing, supporting the uptrend.

2.Long term trend (1 day)

- On the daily chart, BTC also had a strong green candle, showing strong buying power after a deep correction period.

- However, the RSI on this timeframe is still below 50, indicating that the long-term trend has not yet completely reversed to an uptrend.

- The 9 EMA and 50 EMA lines are converging, and if price can hold above these lines, a stronger uptrend is likely in the medium term.

- Bollinger Bands also started to widen, which could predict strong volatility ahead.

Conclude:

BTC is showing signs of recovery after a sharp correction, with buying pressure increasing on short-term time frames. However, to confirm a long-term uptrend, further signals on the daily time frame will need to be monitored and whether the price can sustain above current support levels. Holding current levels and breaking nearby resistance levels will be important to confirm the next uptrend.

Price levels can change the trend of BTC/USDT, we may need to pay attention to some of the following zones: #MarketDownturn #bitcoin #Write2Win $BTC

1. Important support level:

- 61,000 USDT level: This is the closest support level at the moment. If the price holds above this level, the short-term uptrend may be maintained.

- 56,000 - 55,000 USDT level: This is a strong support zone in the medium term. If BTC falls below this zone, it could confirm a reversal to a downtrend.

2. Important resistance level:

- 62,737 USDT level: This has been a resistance level for the past 24 hours. A break of this level could confirm a short-term uptrend, sending BTC to higher levels.

- 64,780 USDT level: This is the next resistance level on the daily chart. If the price breaks through this level, the long-term uptrend could be reinforced.

Conclude:

- Uptrend: If BTC breaks above the resistance levels at 62,737 USDT and then 64,780 USDT, the uptrend will be strongly reinforced.

- Bearish trend: If BTC fails to hold above 61,000 USDT and especially if it breaks the 56,000 - 55,000 USDT support zone, the trend could reverse to a bearish trend