📊 Market Technical Analysis (Based on Pluto AI – 1H)

🔴 Overall Trend

Despite some bullish reversal candlestick patterns, the broader trend is still bearish on the 1-hour timeframe. Momentum indicators are clearly dominating price action right now.

🟢 Support & 🔴 Resistance

Support: 70,418

Resistance: 76,823

Price is currently much closer to support, which means:

Buyers are trying to step in

But sellers still have control overall

🕯️ Candlestick Patterns (Bullish Signals)

You have two strong bullish reversal patterns, which is important:

1️⃣ Bullish Engulfing (Confidence: 70.12%)

Indicates buyers overpowering sellers

Usually appears near a local bottom

Suggests a short-term bounce or pullback

2️⃣ Morning Star (Confidence: 69.78%)

Classic trend exhaustion pattern

Often marks a temporary bottom

Supports the idea of a relief rally

📌 Meaning:

These patterns suggest selling pressure is weakening, but they do not confirm a full trend reversal yet.

📉 Moving Averages (Bearish)

MA(10): 72,480 < MA(30): 74,523

EMA(10): 72,309 < EMA(30): 74,046

🔻 Short-term averages are below long-term averages 🔻 Confirms downtrend is still active

📌 Any upward move may face strong resistance near MA/EMA zones.

📉 MACD (Strong Bearish Momentum)

MACD: -1239

Signal: -1038

Histogram: -200

🔴 MACD below signal line

🔴 Histogram expanding downward

📌 This means bearish momentum is still strong, even if price tries to bounce.

📊 ADX (Trend Strength)

ADX: 55.88 → Very strong trend

-DI (34.20) > +DI (4.36)

📌 This confirms:

The trend is strong

And it is bearish

🧠 Final Conclusion

Short-term:

A technical bounce is possible from the support area due to bullish candlestick patterns.

Trend-wise:

The dominant trend remains bearish. Indicators do not yet support a trend reversal.$BTC $ETH