🚨 BITCOIN (BTC/USDT) DAILY CHART BREAKDOWN: DOWNTREND CONTINUES? 📉
Based on the 1D chart #bitcoin is currently struggling to find momentum above key moving averages, confirming a prevailing bearish bias.
Current Price: $89,007.75
📊 Key Technical Levels to Watch:
Immediate Resistance (MA-7): $90,463.16
Interpretation: $BTC must close above this level to ease selling pressure.
Critical Resistance (MA-25): $91,621.80
Interpretation: Reclaiming this level is crucial for any potential short-term reversal or relief rally.
Key Support Zone: \approx 80,600.00
Interpretation: A break below the 24h Low (88,056) likely leads to a test of this significant swing low.
🔮 Upcoming Scenarios:
Bearish Continuation: Failure to hold \approx 88,000 will target the 80,600 support zone.
Bullish Recovery: A convincing daily close above 91,621.80 could set up a move toward the 94,440 resistance area.
The overall trend remains bearish until the price can decisively reclaim the medium-term moving averages. Trade safely!