#BTC☀

$BTC Weekend Outlook: Will there be a bearish reversal?

Today, the BTC/USDT price hovered around $62,300, up slightly by 2.55%. But we may be reaching a critical turning point. The recent candlesticks show that the price may pull back, and after the current positive candlestick, a stronger negative candlestick is likely to appear.

Considering that tomorrow is Saturday and the day after tomorrow is Sunday, trading volume usually decreases, which often leads to greater price volatility. During the weekend, prices tend to fluctuate unpredictably due to reduced market liquidity. According to the current chart trend, the price is likely to pull back to around $58,000.

Several key technical points:

The RSI indicator is currently in a neutral position, about 47.86, indicating that the momentum for both the rise and fall is not strong. The price is approaching the intersection of EMA (7) and EMA (25), which may indicate an imminent crossover, bringing short pressure. The recent high of $66,498 could become a resistance level, exerting downward pressure on the price.

In the short term, we have to be careful, especially if there are several consecutive negative lines. If BTC falls below the key support level, $58,000 may become an important price during the weekend.

Will this pullback come true, or will the bulls continue to dominate? Time will tell. But for now, traders have to prepare for a possible decline.

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