By looking at the chart, this is my technical analysis:
BTC/USDT Daily Analysis
Current Price: 60,326 USDT
Trend:
Overall trend is still bearish for now.
Price is currently trading below EMA 10, 20, 50, 100, and 200, which indicates a weak market structure.
Important Levels
🟢 Support:
57,800 (Strong support)
If this level breaks, a drop to 56,000–54,500 may be possible.
🔴 Resistance:
60,800–61,200 (First resistance)
If we get a close above it, recovery up to 62,500–64,000 is possible.
Trading Plan
Bullish Scenario:
If the daily candle closes above 61,200 and the volume is strong, a long position can be considered.
Targets:
🎯 62,500
🎯 64,000
🎯 66,000
Bearish Scenario:
If the 57,800 support breaks, selling pressure could increase.
Targets:
🎯 56,000
🎯 54,500
EMA Analysis
EMA 10 and EMA 20 are pointing downward.
EMA 50, 100, and 200 are also above, meaning the long-term trend is still bearish.
The trend will be considered bullish only when price sustains above EMA 50 first.
Binance Post Caption
📊 BTC/USDT Market Analysis
BTC is currently holding above a major support level, but the overall trend is bearish.
🔹 Resistance: 60.8K–61.2K 🔹 Support: 57.8K
Breakout above 61.2K = Bullish momentum 🚀
Breakdown below 57.8K = More downside 📉
Always use Stop Loss & Risk Management.
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