Hello, all investors, today we are following the Bitcoin price situation together. It seems that the BTCUSD market is sending a bearish signal again!

After Bitcoin's failed attempt to make a new high, there is a possibility that the price could fall sharply, like lightning!

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Warning signals from the daily chart:

  • MACD tells us that the downward momentum is strengthening. The MACD line and signal line are in the negative zone, indicating that selling pressure is increasing.

  • The price is still falling, the 9-day moving average at $96,980 is a strong reminder that the decline is really strong.

Important price ranges to watch out for:

  • Opposite: $100,000, $108,390, $115,000

  • Income: $90,000, $73,840, $66,780

The graph reveals the truth:

The daily chart of BTCUSD indicates that the downside is coming after the price failed to rise above $102,740, forming a failure swing pattern near $105,000, signaling a possible bearish reversal.

And recently, the price has dropped below the psychological $100,000 level, confirming that the sellers are in control of the game. There is also a liquidity gap from last November that could push prices down further.

What is the future of Bitcoin?

BTCUSD is expected to test the $90,000 support in the next few days (which has already fallen yesterday). If the selling pressure persists, the next targets are $66,780 and $53,500. However, if the price can bounce back above $96,980, it could be a sign of a pause or an attempt to retest $100,000. However, overall, the downside remains strong as long as the price remains below $102,740.

4-hour chart:

The 4-hour chart of BTCUSD shows a bullish trend in the short term, with the price trading above the MSS at $91,270 and testing the 9-period moving average at $93,600, with a chance of rising to test the Breaker Block (BB) resistance near $99,890.

The MACD is recovering from oversold conditions, indicating that momentum is shifting to the buyers' side. If the price can reach $99,890 or higher, there is a chance to test $100,000 and possibly reach $102,740.

Bitcoin price summary:

$BTC

Please monitor the situation closely. Investing is risky. Good luck to everyone!

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