Bulls lose their grip as Bitcoin Confirms a downward break in the rise up, threatening its recent gains. After having struggled to maintain key support levels, BTC has now cut critical trend lines, opening the door to a deeper correction to $ 73,919 – a level that could determine whether it is a healthy withdrawal or the start of a stronger drop.
With sale Intensification of pressure and market feeling becomes careful, traders Look carefully to see if Bitcoin can find stability. If the bears maintain control, the BTC could face even more steep drops.
After having burst out of the rising corner pattern, Bitcoin has extended its downward dynamics, indicating a change in bull control to the sea bears. The ventilation of this classic reversal model has sparked a wave of sales pressure.
BTC’s incapacity to recover the lost ground confirms more the lowering prospects, because each attempt at recovery meets with stronger resistance. The formation of several red candles indicates a sustained drop pressure, with sellers firmly in control. This model suggests that Bitcoin is struggling to find a solid level of support, increasing the risk of more drops.
The technical indicators of Bitcoin strengthen the lowering perspectives, the divergence of Mobile average convergence (MacD) flashing a strong sales signal. The MacD line has dropped below the signal line and is now moving below the zero line, confirming a change of momentum downwards. As a rule, this crossing suggests that the sales pressure has increased while the purchase of interest has weakened.
This recent ventilation has also resulted in a drop in prices below the simple mobile average at 100 days (SMA), a critical technical level which often acts as a support or dynamic resistance. Bitcoin’s inability to hold above this key mobile average indicates that the sales pressure is intensifying, which makes the task more difficult for the bulls to regain control. Historically, when BTC is negotiated below the 100 -day SMA, it suggests weakening the momentum and increases the probability of a new downward movement.
Bitcoin now approaches a crucial level of support at $ 73,919, a price area that could determine its next major movement. This level appeared as a potential BTC safety net, and if it holds or ruptures will be the key to shaping the walkmanagement.
If buyers intervene with high demand, Bitcoin could see a rebound in this support, finding the lost terrain and the difficult resistance levels above. His successful defense of $ 73,919 could point out that Bulls are still in the game, creating an opportunity for a reversal.
However, if the sales pressure remains dominant and the BTC does not hold this level, the risk of a prolonged downward trend increases, the assets looking at other levels of support such as $ 65,082 and 60,152.
Felash star image, tradingView.com graphic
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