BTC Market Update 🚨

Price Action: BTC managed to defend its price relative to the previous day's close, but ultimately delivered a bearish daily close. It printed a bearish engulfing candle that completely swallowed the previous high-volume bullish candle.

Technical Indicators:

The 1D 20 MA has marked a confirmed breakdown for the first time in about 40 days.

RSI is turning downward after retesting the uptrend line that has been climbing since $60k.

📌 Key Levels to Watch Over the Weekend

Failure to Reclaim: If BTC cannot quickly reclaim $79.4k over the weekend...

Support Breakdown: A break below $77k could trigger a deeper correction down to $74k.