@hooiyewlim 1 April 2025 more from that month

Bitcoin Attempts Recovery Amid Downtrend – Can Bulls Regain Control?

Technical Analysis: 1. Price Action & Trend BTC/USDT is trading at $83,147.59, up +1.83% in the last 24 hours. The price recently hit a low of $81,278.52, suggesting support in that zone. The downtrend is evident from the lower highs and lower lows. 2. Moving Averages (EMA & MA) EMA (7) = $82,700.62 (short-term resistance). EMA (25) = $83,416.52 (near current price, acting as resistance). EMA (99) = $84,709.88 (long-term bearish signal). The short-term MA (5) = 3,356 is slightly above MA (10), indicating a possible short-term uptrend. 3. RSI (Relative Strength Index) RSI (6) = 57.82, suggesting BTC is in a neutral zone, not overbought or oversold. 4. Volume & Market Strength Volume (1,779 BTC) shows some buying interest, but not strong enough for a trend reversal yet. Conclusion: BTC is attempting a short-term recovery, but it faces strong resistance at $83,400 and $84,700. A break above these levels may indicate further upside, while failure to hold support around $81,200 could lead to another decline. Trend remains bearish unless BTC reclaims $85,000+.