Overall Market Sentiment: Strong Bearish (Sell Pressure Dominates)
Bitcoin is currently trading at $87,698.0, down by -1,142.6 (-1.29%), indicating downward momentum.
Technical Summary:
Strong Sell signals from both Moving Averages (12 Sell, 0 Buy) and Technical Indicators (8 Sell, 0 Buy, 3 Neutral).
Bearish Momentum is evident from multiple indicators.
Key Technical Indicators Analysis
1. Trend Strength & Momentum Indicators:
RSI (14): 38.08 (Near oversold but still in bearish territory).
Stochastic (9,6): 98.653 (Overbought, suggesting a potential reversal downward).
StochRSI (14): 0.000 (Oversold, indicating weakness).
MACD (12,26): -77.4 (Bearish divergence, supporting downward movement).
ADX (14): 23.93 (Weak trend strength, but still favoring sellers).
CCI (14): -152.26 (Strong Sell, indicating overextension downward).
Highs/Lows (14): -640.09 (Strong Bearish bias).
Williams %R: -1.933 (Overbought, meaning price might decline soon).
2. Volatility & Market Strength:
ATR (14): 398.24 (Less Volatility, meaning no major price swings, just steady selling pressure).
Bull/Bear Power (13): -1232.87 (Strong Bearish Control).
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Moving Averages (All Indicate a Strong Sell)
Short-term (MA5, MA10, MA20, MA50) → Below current price, acting as resistance.
Long-term (MA100, MA200) → Showing strong downward pressure.
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Pivot Points & Support/Resistance Levels
Resistance Levels (R1-R3): 87975.9 → 88397.1
If BTC rises, these levels could act as a ceiling where sellers step in.
Support Levels (S1-S3): 87554.6 → 87133.4
A break below S3 (87133.4) could trigger further selling.
Trading Strategy Based on Analysis
1. Bearish Strategy (Short-Selling or Sell the Bounce):
Entry: If BTC retests and rejects resistance levels (~87975 - 88171).
Stop-Loss: Above 88397 (R3 level).
Target: S1 (87554) → S2 (87329) → S3 (87133).
2. Potential Reversal (If Market Rebounds from Support Levels):
Watch for a bounce around 87133 (S3) with confirmation from RSI/StochRSI.
If BTC reclaims pivot point (87750) and closes above R1 (87975), a short-term bullish move could happen
Final Conclusion: Bearish Bias Dominates
Indicators strongly favor selling pressure.
Moving Averages confirm continued downside.
Only a breakout above 88397 would shift sentiment toward neutral.
Aggressive traders could short BTC near resistance zones.
Cautious traders should wait for a clearer trend confirmation.
