BTCBearishtrendcontinues
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#BTCBearishtrendcontinues
👋 Let’s break down the latest on BTC/USDT using a daily Heikin Ashi chart and some key indicators.
📊 The price has been in a clear downtrend, dropping from a high of $108,658.80 to a low of $71,000.00, and now sitting at $85,780.00 after a recent 2.91% bounce. But is this just a dead cat bounce, or are we heading lower? Let’s dive in!
Heikin Ashi Analysis:
The daily Heikin Ashi chart shows a strong bearish trend with consistent red candles since the $108K peak. 📉
The price has already dropped from $92,558.11 to $85,780.00, breaking key supports like $94,961.33 and $88,666.69.
A 20% drop from $92,558.11 targets $74,000, and from the current $85,780.00, we’re looking at $68,624—both levels are in play if the $76,606.00 support breaks.
📈 Indicator Insights:EMAs:
Price is below the EMA(50) at $87,775.02 (bearish) but just above the EMA(200) at $85,467.85 (neutral). This suggests the long-term trend might still hold, but short-term bearishness dominates.
RSI: RSI(14) is at 50.43—neutral, with room to drop before hitting oversold levels. No immediate reversal signal here.
MACD: MACD is at 250.49 (positive, showing short-term bullish momentum), but the DEA is at -1,050.40 (bearish), confirming the broader downtrend.
Volume: Volume is decreasing (10,968 BTC vs. MA(20) of 17,771 BTC), indicating the recent bounce might lack conviction.
💡 Trade Idea:
I’m leaning toward a short entry here at $85,780.00. The bearish trend is still strong, and a break below $76,606.00 could send us toward $68,624 (a 20% drop).
Stop-Loss: Place above $88,236.67 (recent resistance) to manage risk.
Take-Profit: Target $68,624 or the $65,000-$70,000 zone for a deeper move.
🌍 Market Context:
Bitcoin’s 30-day performance is down 7.60%, and 90-day is down 9.09%, reflecting ongoing bearish sentiment. Keep an eye on macro factors like regulatory news or institutional moves,
What’s your take, fam? Are we heading for $68K, or is a reversal coming? Drop your thoughts below! 💬 Let’s trade smart and stay safe! 🚀
#BTCBearishtrendcontinues
👋 Let’s break down the latest on BTC/USDT using a daily Heikin Ashi chart and some key indicators.
📊 The price has been in a clear downtrend, dropping from a high of $108,658.80 to a low of $71,000.00, and now sitting at $85,780.00 after a recent 2.91% bounce. But is this just a dead cat bounce, or are we heading lower? Let’s dive in!
Heikin Ashi Analysis:
The daily Heikin Ashi chart shows a strong bearish trend with consistent red candles since the $108K peak. 📉
The price has already dropped from $92,558.11 to $85,780.00, breaking key supports like $94,961.33 and $88,666.69.
A 20% drop from $92,558.11 targets $74,000, and from the current $85,780.00, we’re looking at $68,624—both levels are in play if the $76,606.00 support breaks.
📈 Indicator Insights:EMAs:
Price is below the EMA(50) at $87,775.02 (bearish) but just above the EMA(200) at $85,467.85 (neutral). This suggests the long-term trend might still hold, but short-term bearishness dominates.
RSI: RSI(14) is at 50.43—neutral, with room to drop before hitting oversold levels. No immediate reversal signal here.
MACD: MACD is at 250.49 (positive, showing short-term bullish momentum), but the DEA is at -1,050.40 (bearish), confirming the broader downtrend.
Volume: Volume is decreasing (10,968 BTC vs. MA(20) of 17,771 BTC), indicating the recent bounce might lack conviction.
💡 Trade Idea:
I’m leaning toward a short entry here at $85,780.00. The bearish trend is still strong, and a break below $76,606.00 could send us toward $68,624 (a 20% drop).
Stop-Loss: Place above $88,236.67 (recent resistance) to manage risk.
Take-Profit: Target $68,624 or the $65,000-$70,000 zone for a deeper move.
🌍 Market Context:
Bitcoin’s 30-day performance is down 7.60%, and 90-day is down 9.09%, reflecting ongoing bearish sentiment. Keep an eye on macro factors like regulatory news or institutional moves,
What’s your take, fam? Are we heading for $68K, or is a reversal coming? Drop your thoughts below! 💬 Let’s trade smart and stay safe! 🚀
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