🚨 Bitcoin Analysis (BTC/USDT): Are we facing a correction or a continuation of the uptrend? 🚨

Bitcoin is currently trading around the $78,964 level after setting a local peak close to $81,478. Here’s a quick read of the technical picture based on indicators:

📊 Technical Analysis:

* Moving Averages: The price is trading above the moving average MA(7) at $78,647 and MA(25) at $70,905, reflecting the continuation of upward momentum on the daily timeframe.

* Near supports: Levels of 77,000$ form the low of the past 24 hours, followed by strong support at the average MA(25) near 70,900$.

* Resistance: A stable breakout above 81,500$ opens the way to new all-time highs.

💡 Market overview:

The numbers show positive performance over the past week and months (+25.56% over 30 days), but the appearance of some reversal candles near the peak warns of the possibility of a sideways correction movement to lock in profits before the next direction is determined.

👇 Share your thoughts:

Do you think Bitcoin will succeed in breaking the 81,500$ barrier this week, or will we see a retest of the 75,000$ levels?

#Bitcoin #BTC #Crypto #BinanceSquare #TechnicalAnalysis

(Disclaimer: This content is for educational and analytical purposes only and does not constitute financial or investment advice).