🚨 Bitcoin on defensive mode: the daily chart confirms bearish pressure and the macro context doesn't help
If you thought Bitcoin had left the correction phase behind, beware 👀.
The daily chart (1D) is starting to show a clear bearish technical structure, and this time the noise isn't just coming from the chart… it's coming from the macroeconomic environment, especially from Asia.
Let's break it down:
📉 The chart doesn't lie: technical bearish trend in 1D
On a daily timeframe, BTC shows classic signs of weakness:
- Lower highs and lower lows → active bearish structure
- The price remains below key moving averages, which now act as resistance
- The Bollinger Bands are sloping downwards, indicating sustained selling pressure
- Recent bounces have been short and lack momentum, indicating a lack of buying conviction
In simple terms:
👉 every recovery attempt is being sold.
⚠️ Current zone: fragile consolidation, not strength
After the strong drop from the 100k+ zone, the price entered a phase of lateralization.
But beware: lateralizing after a drop is NOT the same as accumulating.
When the market consolidates below important resistances, it is usually a signal of:
- distribution
- profit-taking
- waiting before another directional move
And, for now, the bias remains tilted downwards.
🌏 The macro factor: Japan adds uncertainty to the market
This is where the context that many charts ignore comes in.
The imposition / tightening of interest rates in Japan introduces a key element:
- Less global liquidity
- Greater risk aversion
- Strengthening of the yen against speculative assets
- Indirect pressure on markets like crypto.
Historically, when central banks withdraw stimulus or raise rates, risk assets (like BTC) suffer first.
Are we just seeing a necessary technical reset within a larger cycle, or does the market need more time and more pain before finding a real floor?
