The bulls lose their grip Bitcoin It confirms the breakdown of an increased wedge, which threatens its recent gains. After struggling to obtain the main support levels, BTC has now cut critical trend lines, opened the door to correct the deeper about $ 73,919 – a level that could determine whether this is a health decline or the beginning of a sharp decline.
with sale Steeling pressure and morale in the market turns into caution, Merchants They closely monitor if Bitcoin can find stability. If the bears maintain control, BTC may experience more severe decreases.
It strengthens the landfill: signs on the additional negative side
After getting out of the up -to -spichean pattern, Bitcoin extended its declining momentum, indicating a shift in controlling bulls to bears. The collapse of this classic pattern of reflection led to a wave of Pressure.
BTC’s inability to recover the lost land is more dominant expectations, as every attempt to recover is confronted with stronger resistance. The formation of multiple red candles indicates the constant declining pressure, with the sellers control firmly. This pattern indicates that bitcoin is struggling to find a strong support level, which increases the risk of more declines.
The technical indicators of Bitcoin enhance the Habbudian expectations, with average medium rapprochement flash (MACD) a strong sale signal. The MACD line decreased below the signal line and is now moving below the zero line, confirming a transformation on the negative side. This intersection usually indicates that the sale pressure has increased with poor interest purchase.
This last collapse has led to a decrease in prices to less than a simple moving average for 100 days (SMA), which is the decisive technical level that often works as dynamic support or resistance. Bitcoin’s failure to retain this main moving average indicates that the pressure pressure is intensifying, which makes it more difficult Bulls To restore control. Historically, when BTC trades less than SMA for 100 days, it indicates twice the momentum and increases the possibility of more negative movement.
The main support at $ 73,919: Will you carry bitcoin?
Bitcoin is now approaching the decisive support level at $ 73,919, a price area that can determine its next main step. This level appeared as a possible safety network for BTC, and whether it carries or periods of breaks will be a key to forming marketdirection.
If buyers interfere with strong demand, Bitcoin may see a reversal of this support, restore lost resistance levels and challenges above. Its successful defense may indicate $ 73,919 that the bulls are still in the game, creating an opportunity to reflect.
However, if the dominant sale pressure and BTC fail to keep this level, the risk of the extended downtown trend increases, as assets look forward to other support levels such as $ 65,082 and 60,152.
Distinctive image from Unsplash, Chart from TradingView.com
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