#BTC/USDT 1DAY UPDATE BY CRYPTOSANDERS

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#BTC/USDT ANALYSIS:- daily timeframe, the price recently retested the broken, bearish trendline and the 18K support level. These levels provided enough support to prevent another dip toward lower prices. However, the 50-day moving average located at around 19K is persisting as a strong obstacle and is putting the brakes on a potential rally toward the 24K area.

The 100-day moving average can also be considered a significant dynamic resistance that could reject the price in case of a bullish breakout from the 50-day MA. Right now, a positive trend cannot be anticipated before a break above these two levels and, eventually, the 24K static resistance.

So, although the market has broken above the long-term bearish trendline, the continuation of a downtrend still remains the more probable scenario as the market structure is still far from bullish.

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