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BTC Evening Analysis and Suggested Price Levels
1. Market Analysis
From the chart, it can be seen that the current price of BTC/USDT is $113,450.01, with significant fluctuations in the last 24 hours and a daily decline of 2.05%. The short-term candlestick chart shows a downward trend with increased trading volume during the decline, reflecting that bearish forces are in control. From a technical indicator perspective, the 5-day moving average is entangled with the 10-day moving average, with the price close to the moving averages, making the short-term trend unclear but leaning bearish.
2. Suggested Points
• Support level: There is certain support near 112,500 USD below. If it breaks this level, it may further drop to 112,000 USD.
• Resistance level: The upper resistance at $114,000 is a short-term resistance; if it can break through, it is expected to challenge the resistance level at $115,000.