$BTC #BitcoinHitsBearMarketLow

BTC/USDT, here is a technical analysis of the current chart:

📉 Overall Trend & Price Position

· Price: 64,635.5 USDT, down -10.55% in 24h.
· Price is below the Bollinger Middle Band (73,311.1) and hovering near the Lower Band (63,555.6), indicating short-term weakness.
· SAR (Stop and Reverse) is at 67,816.9, above the current price, confirming a bearish trend structure.

📊 Technical Indicators Breakdown

1. Bollinger Bands (20,2)

· Upper Band: 83,066.6
· Middle Band: 73,311.1
· Lower Band: 63,555.6
· Price is pressing against the Lower Band. A break below could extend the drop, but it may also signal an oversold bounce.

2. SAR (Parabolic SAR)

· Current SAR: 67,816.9 (above price)
· This confirms the downtrend is active. A reversal would require price closing above this level.

3. Volume & Turnover

· 24h Volume (BTC): 28.83K
· 24h Turnover: 1.95B
· High volume on decline suggests strong selling pressure.

4. Key Levels

· Immediate Support: Lower Bollinger Band ≈ 63,555.6
· Stronger Support: 24h Low = 59,980.6
· Immediate Resistance: SAR ≈ 67,816.9
· Major Resistance: Middle Bollinger Band ≈ 73,311.1

🧠 Summary & Outlook

· Short-term bias: Bearish. Price is in a clear downtrend below key moving averages and SAR.
· Watch for:
· A break above SAR (~67,800) for a possible short-term recovery.
· A break below Lower Band (~63,555) to test 59,980 support.
· Trading consideration:
· If holding: Consider placing a stop near 67,800 or reducing exposure if 63,500 breaks.
· If waiting to enter: Look for signs of stabilization near the Lower Band or a bullish reversal pattern.