📈 BTC/USDT Technical Analysis (1M Chart)

The chart displays a clear long-term uptrend, but the most recent price action indicates a significant correction from a recent high.
Key Price Levels & Trends
• Current Price: $95,500.5
• Recent High (Resistance): The price peaked around $126,193.0 (likely an All-Time High or a major local peak).
• Immediate Support: The dotted horizontal line is near the current price and seems to align with a previous consolidation area or a key psychological level (possibly around $95,000 to $98,473.5). This level is critical for preventing a deeper fall.
• Long-Term Trend: The overall price action, starting from around $9,339.1 in late 2020 and rising to over $126k in 2025, shows a very strong, sustained long-term bullish trend.
Moving Averages (MAs)
The Exponential Moving Averages (EMAs) show a potential loss of short-term momentum but the long-term trend remains strong:
• EMA10 ($100,698.2): The current price ($95,500.5) is below the 10-period EMA, indicating short-term bearish momentum on the 1-month chart. This EMA could act as immediate resistance on any rebound.
• EMA30 ($78,402.9): The current price is still significantly above the 30-period EMA. As long as the price stays above this long-term support, the overall bullish structure remains intact.
• EMA5 ($104,337.7): The price is also below the 5-period EMA, confirming the near-term downward pressure.
Bollinger Bands (BOLL)
The price is currently challenging the lower half of the Bollinger Bands:
• Upper Band (UB): $126,628.2
• Mid Band (BOLL): $87,833.0
• Lower Band (LB): $49,037.4
• The price is currently between the Mid Band and the Upper Band, but it has retreated sharply from the Upper Band. It is still well above the Mid Band, suggesting that while a significant correction is underway, the market is not yet in a long-term downtrend (which would be suggested by a sustained drop below the Mid Band).
MACD (Moving Average Convergence Divergence)
• The MACD histogram (green bars) appears to be decreasing in size from the previous month's reading, and the MACD line (purple) looks like it is crossing down below the Signal line (red), visible in the indicator panel.
• Interpretation: This is a bearish cross signal on the 1-month chart, confirming the loss of bullish momentum and suggesting that the current downward correction may continue, at least in the short to medium term. The MACD values are still positive, indicating the underlying long-term bullish trend is not completely reversed.
📝 Conclusion
The BTC/USDT token is undergoing a significant correction from a strong long-term uptrend, which saw the price rally past $126k.
1. Bearish Short-Term: The price is below the 5-period and 10-period EMAs, and the MACD shows a bearish crossover, indicating strong selling pressure and a short-term bearish outlook.
2. Bullish Long-Term: The price remains well above the 30-period EMA and the Bollinger Mid-Band, suggesting that the overall long-term bull market structure is still holding and the current move is a healthy, albeit deep, correction within that trend.
3. Critical Support: The $95,500 level is a crucial support area. A break and sustained move below the Bollinger Mid Band ($87,833.0) would signal a much deeper and more concerning correction.
In summary, the token is at a critical juncture: it is facing short-term bearish pressure but is resting on key psychological and long-term technical supports that could trigger a rebound.#CoinDeskOctoberGateReportComing $BTC ‌#GateOctTransparencyReportReleased #GateOctTransparencyReportReleased #CoinDeskOctoberGateReportComing #BuyTheDipOrWaitNow?