💥The market is experiencing a pullback and widespread correction, erasing the optimism and bounce seen over the weekend.
💥Bitcoin (BTC): Trading around $62,400 USD, marking a drop of approximately 3.3% in the last 24 hours. The price fluctuated within a daily range between a high of $64,691 and a low of $61,893.
💥Ethereum (ETH): Following the bearish trend, pressing against key supports in its short-term structure, dragged down by the overall market caution.
🔍 📉$Short-Term Technical Trends
Structural Weakness: After failing to consolidate above the macro resistance zone ($65,000 - $66,500), the immediate short-term bias remains bearish.
Critical Support Zones: For Bitcoin, analysts are focused on defending the key support block between $62,200 and $60,000 USD. Losing this level would open the door to testing previous range lows. For now, short-term momentum indicators (like the RSI) are starting to show oversold readings, suggesting that the immediate selling pressure may begin to lose steam in this area.
💥Bitcoin (BTC): Trading around $62,400 USD, marking a drop of approximately 3.3% in the last 24 hours. The price fluctuated within a daily range between a high of $64,691 and a low of $61,893.
💥Ethereum (ETH): Following the bearish trend, pressing against key supports in its short-term structure, dragged down by the overall market caution.
🔍 📉$Short-Term Technical Trends
Structural Weakness: After failing to consolidate above the macro resistance zone ($65,000 - $66,500), the immediate short-term bias remains bearish.
Critical Support Zones: For Bitcoin, analysts are focused on defending the key support block between $62,200 and $60,000 USD. Losing this level would open the door to testing previous range lows. For now, short-term momentum indicators (like the RSI) are starting to show oversold readings, suggesting that the immediate selling pressure may begin to lose steam in this area.