#BTC#

The chart shows Bitcoin's price action against Tether. The current price is at 108,730.7 USDT. It has decreased by 0.51% in the last 24 hours.

Important Price Levels (Within 24 Hours):
* 24-Hour High: 110,506.2 USDT
* 24-Hour Low: 108,703.8 USDT
* 24-Hour Volume (BTC): 5.19K
* 24-Hour Turnover (USDT): 569.03M
Chart Movements and Trends:
* Last Drop and Recovery Attempt: The chart generally showed an uptrend starting from 105,105.0 levels and went up to 110,506.2 levels. However, the last candles (red bars) show that the price has pulled back from this peak and is currently trying to stabilize around 108,730.7.
* Moving Averages (MA):

* MA5 (Short Term): 109,216.6
* MA10 (Medium Term): 109,158.8
* MA30 (Long Term): 107,951.0
* The short-term moving averages (MA5 and MA10) being above the current price indicates that there is short-term bearish pressure. However, the fact that they are not below MA30 may indicate that a longer-term uptrend is still in place. The price is currently trading below MA5 and MA10.
* Support and Resistance Levels:
* Resistance: The nearest resistance level can be seen as the previous high of 110,506.2 and the psychological level of 110,000 USDT.
* Support: The nearest support level can be seen as the previous decline reversal level of 108,703.8 and further down 105,105.0.
* Parabolic SAR (SAR(0.02, 0.02, 0.2)): It is positioned above the current candles (110,506.2), which supports a short-term downtrend.

Indicators (Lower Part):

* MACD (12,26,9):
* MACD Line: 23.9
* DIF Line: 23.9
* DEA Line: 524.0 (These values ​​are quite high compared to a normal MACD view and may be a typo or an anomaly due to the scale of the chart. Normally, the MACD and Signal lines are much closer to each other.)
* In a normal MACD, when the MACD line is below the signal line, it indicates a downtrend, and when it is above the signal line, it indicates an uptrend. It is difficult to make a clear comment with the values ​​here.
* RSI (Relative Strength Index):

* RSI(6): 46.6
* RSI(12): 53.5
* RSI(24): 55.0
* Since the RSI values ​​are within the 30-70 band, there is no overbought or oversold situation. RSI(6) below 50 indicates short-term weakness, while RSI(12) and RSI(24) above 50 may suggest that it is in neutral-slightly overbought territory in the longer term.

Conclusion:
Bitcoin currently appears to be in a short-term correction. The pullback from the previous peak and the fact that it is trading below the short-term moving averages indicate some selling pressure.