BitcoinThe recent price movement near the level of 85,211 dollars revealed many red flags, indicating a possible weakness in its upscale momentum. Despite multiple attempts to penetrate this critical resistance, BTC struggled to maintain ascending traction, indicating a possible transformation in the market morale.
Inability to restore the key Resistance areas Leave the bulls weak while sellers try to take advantage of the last slowdown. If BTC fails to keep this support, the deepest decline may be on the horizon.
Technical analysis: signs of weakness in the work of bitcoin price
The price of Bitcoin appears to be at risk because it is struggling to maintain momentum and fracture above 85,211 dollars, which raises concerns about strength Climb direction. The recent decline indicates a change in the market dynamics towards increasing the declining pressure.
Many of the main technical indicators are signs of weakness and flashing, indicating a decrease in bullish momentum. RSI, which has already climbed above a 50 % threshold, is now declining. Meanwhile, the MACD is a slowdown in the upper direction movement, as the MACD line approaches a declining intersection, hinting to the potential negative side of the main asset.
In addition, Bitcoin remains less than a simple moving average for 100 days (SMA), which enhances the resistance and makes the attempt to collapse more challenging. If buyers fail to restore strength, BTC may face increased pressure pressure, which leads to lower main support levels. However, the recovery in purchasing the decisive benefits and step of more than $ 85,211 may help BTC to restore traction ascending and shift Market feeling In favor of bulls.
Hacking this main resistance can open the door for more upward trend, as BTC targets higher resistance areas, including 93,257 dollars. The collapse above 93,257 dollars would Investor Confidence, and attract more buyers to the market.
Risks of collapse: Keys to see less than 85,211 dollars
Bitcoin’s inability to maintain a momentum of more than $ 85.211 raises concerns about a possible collapse, and to bring the key Support levels In focus. With intense sale pressure, the next critical area to see is $ 73,919, as buyers may try to defend additional losses. The violation of this level indicates a deeper correction towards the support level of $ 65,082.
More negative movement may bring $ 60,152, an area that was previously working as a strong demand area. Its failure to keep this range may speed up the homosexual movements, which increases the possibility of reviewing levels less than BTC. The bulls need to restore a mark of $ 7,919 to alleviate the risk of a long decrease and re -control this trend.
Distinctive image from Unsplash, Chart from TradingView.com
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