Technical analysis by Renata-1 about Symbol BTC: Buy recommendation (8/19/2024)

BTCUSDT is in a long-term uptrend, reinforced by the formation of higher lows and higher highs on the weekly chart.The RSI is currently at 48.42, indicating a neutral zone, showing that the market is neither overbought nor oversold.Both the 34 and 89 EMAs are rising, confirming the long-term uptrend. The interaction between the price and these EMAs is a key indicator for maintaining the trend.If BTCUSDT breaks and holds above the $75,000 resistance, the next target could be the $85,800 area.