The current chart is based on BTCUSDT Perpetual Futures on the daily timeframe (1D).

It can be seen that the overall market structure is in a clear downtrend, even with a temporary rebound after a significant drop in price.

Analysis of Moving Averages

The chart shows MA(7), MA(25), and MA(99).

MA(99): Represents the long-term trend. The price continues to be below MA(99), indicating that the long-term bearish trend remains.

MA(25): Serves as mid-term resistance. In previous rebounds, the price failed to stay above this moving average.

MA(7): Responds quickly to short-term movement, but has not yet surpassed MA(25) and MA(99).

The arrangement of moving averages is in bearish alignment (long > mid > short), indicating that selling pressure is stronger than buying pressure.

Price Structure and Trend

A clear Lower High and Lower Low structure can be seen, which is a common characteristic of downtrends.

The last rebound did not create a higher high compared to the previous peak, and was immediately followed by another decline.

In the latest decline, there was a strong reaction around 59,800 USDT, where a long wick can be seen. However, this is more of a technical rebound than a true trend reversal.

Volume Analysis

A significant increase in volume is noticeable during the price decline.

This indicates that the decline was accompanied by panic selling or forced liquidation, not just a simple correction.

Although there is still volume in the rebound, there is not yet enough evidence of continuous buying pressure that would prove a trend change.

Support and Resistance Levels

Key Support

59,800 ~ 60,000 USDT

This is the most important short-term support zone based on the last low.

Short-term Resistance

Around 70,000 USDT

A psychological level and former support that is now resistance.

Mid-term Resistance

80,000 ~ 90,000 USDT area (near MA(99))

It is important to break this to confirm the trend reversal.

Overall Analysis

Currently, the BTCUSDT chart shows the following:

✔ Continued long-term downtrend

✔ Panandaliang rebound matapos ang matinding pagbaba

✔ Bearish moving average alignment

✔ High volume during price decline

A short-term rebound may continue, but to say there is a true trend change, the price needs to hold above MA(25) and create a higher high.

As long as this does not happen, the possibility of a retest or another decline after the rebound still prevails.