$BTC Technical Analysis of BTC/USDT on Binance (4H Chart)

Overview:

In this analysis, we’ll dive into the BTC/USDT 4-hour chart as observed on Binance. Bitcoin (BTC) has been on an upward trajectory, currently trading around $76,666 with a minor gain of +0.24% at the time of analysis. Key levels such as the 24-hour high of $77,199.99 and a low of $75,494.00 provide critical insights into recent price fluctuations.

Moving Averages (MA):

• MA(7): 76,262.56

• MA(25): 73,618.78

• MA(99): 70,207.40

The MA indicators show a clear upward trend. The short-term MA(7) is positioned above both the medium-term MA(25) and long-term MA(99), a bullish signal that indicates strong buying momentum. When the shorter-term moving averages are above the longer-term ones, it typically points to continued upward momentum.

Key Support and Resistance Levels:

• Resistance: The most immediate resistance level is around the recent high of $77,199.99. If BTC breaks through this level, it could pave the way for a test of higher levels.

• Support: The support level to watch is $73,917.74. This level aligns with recent consolidation points and serves as a safety net if the price begins to pull back.

Indicators:

1. Volume: The volume bars show a spike around 66,835.00, where buying interest surged. This increase in volume correlates with the recent upward price movement, signaling strong demand at this level.

2. Order Book: The bid-ask ratio is skewed towards buyers, with 64.03% bids compared to 35.97% asks. This buyer-dominant order book reflects positive sentiment, suggesting that there’s more buying interest than selling pressure at current price levels.

3. VOL Indicator: The VOL (Volume Oscillator) suggests robust trading activity. The 24.12% gain over the past 90 days indicates sustained interest in BTC, highlighting a solid bullish outlook.