#BTC/USDT - 1H Technical Analysis
Price: $79,325.39 | -0.62%
1. CURRENT SITUATION
#BTC made a strong selloff after rejecting from the 24h High of $80,559.99.
Abhi price is trading around $79,325. The 24h Low of $79,001.10 has already been tested.
2. TECHNICAL INDICATORS
Trend: Bearish Short Term
MA7: 79,694.99 | MA25: 79,838.14 | MA99: 79,889.06
Price has fallen below all major MAs. This is a bearish signal in the short term.
RSI(6): 24.80
It is in the oversold zone. There are chances of a bounce, but until then the trend is weak.
Volume: 10,662.57 BTC / 851.30M USDT
Volume is high during the decline. Selling pressure is strong.
3. KEY LEVELS
Resistance: 79,694 - MA7, then 79,838 - MA25, and 80,559 - 24h High
Support: 79,001 - 24h Low, then 78,923 below that
Psychological: 79,000
4. OVERALL VIEW
#BTC is forming a bearish structure on the 1H chart. Price has broken below the MAs.
The RSI is oversold, so a small bounce may occur.
Scenario 1 - Bearish: If 79,694 is not broken, 79,001 and then 78,923 may be tested.
Scenario 2 - Bullish: If it closes above 79,838, a recovery to 80,294 is possible.
Note: This is for educational purposes only, not financial advice. Do not trade without an SL.
