BTC CRASH ACCELERATES: Testing Critical $80K Support as $7,000 Wiped Out in 24 Hours
1. Price Drop: BTC is down {-7.02\%} today. 📉
2. Strong Trend: Chart shows a severe short-term downtrend. 🐻
3. Below MAs: Price is trading well below all key Moving Averages (MAs). ⬇️
4. Crucial Support: Testing critical support near {\$80,600}. 🛡️
5. High Volume: Sharp decline is supported by high selling volume. 🔴
6. MACD Signal: MACD is deep in negative territory, signaling strong momentum down. 💨
7. RSI Reading: RSI is approaching oversold levels (\approx 34), hinting at potential bounce. ⚠️
8. Reclaiming Resistance: Needs to break {\$85,794} (MA(7)) for a temporary bottom. ⬆️
9. Market Sell-Off: Drop driven by {macro-uncertainty} and ETF outflows. 🌐
10. Overall Bias: Outlook remains strongly bearish for the near term. 🥶
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