$BTC /USDT pair on the 4-hour (4h) timeframe.
Current Price Action
Price: $68,266.79 (up +3.56% in the last 24 hours).
Market Sentiment: Bitcoin is currently in a short-term recovery phase. After hitting a recent local bottom near $64,000, the price has rebounded strongly, breaking back above the $68k mark.
Technical Indicators
Moving Averages (MA):
MA(7) - Yellow ($66,936): The price is currently trading above this short-term line, which is a bullish signal for immediate momentum.
MA(25) - Pink ($65,990): This is acting as a "Golden Cross" support. The price recently crossed above this, confirming the local trend reversal from bearish to bullish.
MA(99) - Purple ($67,566): This was a major resistance level. The fact that the price has just broken above the MA(99) suggests that the medium-term trend is attempting to shift upward.
Volume: There is a noticeable spike in green volume bars at the bottom, suggesting that the recent "pump" is backed by active buying interest rather than just a low-liquidity move.
Key Levels to Watch
Resistance: The next major hurdle is around $70,000 (psychological barrier and near the 24h high of $69,988). If it breaks this, the path toward $72k opens up.
Support: Immediate support lies at $67,500 (the Purple MA99 line). If it falls back below this, we may see a retest of $65,000.
Summary
The chart shows a bullish breakout from a downward consolidation. As long as BTC holds above $67,566, the momentum favors the buyers. However, the overall "1 Month" performance is still down (-22.80%), so this move should be viewed as a recovery within a larger corrective cycle.
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