$BTC technical analysis

Here we go

1-Day Chart Analysis:

The trend shows a strong downtrend with the key support previously around $49,000 and resistance near $67,000. The MACD is negative and RSI near oversold, suggesting a bearish momentum with a possible reversal or bounce.

4-Hour Chart Analysis:

This chart confirms the daily downtrend, with recent consolidations around $58,000. Both MACD and RSI are negative, hinting at a continuation of the bearish trend but with potential for short-term relief.

1-Hour Chart Analysis:

Price movements are volatile, reacting quickly to market changes. The RSI's fluctuations suggest market indecision, with recent dips indicating short-term buying opportunities.

30-Minute Chart Analysis:

This chart provides a granular view of immediate market sentiment, showing strong but temporary bullish resistance in a predominant bearish trend. Patterns suggest potential short-term reversals.

Future Expectations (24-Hour Forecast):

Immediate support is around $49,000 with resistance near $58,000. The market may retest the $49,000 level and potentially bounce back to $58,000 if it holds. If $49,000 breaks, the price might drop towards $46,000.

Decision Guidance:

Monitor for volume increases at support levels for buying opportunities and set stop-loss orders below $49,000. Be prepared to capture quick profits from any bullish signals, considering the overall bearish market context.