TECHNICAL ANALYSIS BTC/USDT (1H TIMEFRAME)
▪️ Structure status: 📉 BTC price is currently in a short-term recovery swing after a sharp drop beforehand (down from the previous peak around ~$79,890 to the most recent bottom at 74.967,97 USD).
▪️ Price action: 🐂 Throughout the European session, the Buyers tried to push the price up and it is currently trading around 76.618,57 USD (a slight increase of +1,21% in 24h).
▪️ Moving averages (MA):
✅ Price has successfully broken above the MA(7) line (around 76.534 USD) and the MA(25) line (around 76.201 USD), turning these two lines into an excellent short-term dynamic support cluster.
$BTC
#BTC
▪️ Structure status: 📉 BTC price is currently in a short-term recovery swing after a sharp drop beforehand (down from the previous peak around ~$79,890 to the most recent bottom at 74.967,97 USD).
▪️ Price action: 🐂 Throughout the European session, the Buyers tried to push the price up and it is currently trading around 76.618,57 USD (a slight increase of +1,21% in 24h).
▪️ Moving averages (MA):
✅ Price has successfully broken above the MA(7) line (around 76.534 USD) and the MA(25) line (around 76.201 USD), turning these two lines into an excellent short-term dynamic support cluster.
$BTC
#BTC