🔍 Is a decline coming? Analysis of the Current Structure
Your reading on a possible pullback has solid technical foundations at this moment:
Loss of Momentum: Although the price slightly recovered to 95,600 USDT at noon, it is observed that the volume has been progressively decreasing throughout Saturday. In trading, a rise with decreasing volume is often a signal of buyer exhaustion.
Divergence in indicators: Some current technical analyses show a bearish divergence in the RSI (Relative Strength Index) and the MACD on 4-hour timeframes. This means that, while the price attempts to rise or hold steady, the actual buying strength is falling, which often precedes a correction.
Candle Patterns: In the last hours of this January 17, patterns such as "Engulfing Bearish" and "Doji Star Bearish" have been detected on 5-hour and 1-hour timeframes. These patterns suggest that sellers are gaining control at levels close to $95,800.
📉 Key Levels to Watch
If your prediction comes true, these are the points where the price could react:
Immediate Support: 94,293 - 94,500 USDT. It is the minimum that the price has defended in the last 24 hours. If it breaks this level with a 4-hour candle closing below, the decline would be confirmed.
Deep Bounce Zone: 90,000 - 90,800 USDT. Many analysts see this level as a critical institutional support zone for this month.
💸 Impact on P2P (Venezuela)
It is important to note that if Bitcoin drops sharply, there is usually an increase in demand for USDT in the local market, which could push the bolívar (VES) rate slightly up due to the search for refuge.
My technical opinion: I agree that the risk of a pullback is high as long as we do not manage to break forcefully above 96,000 USDT.
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