$BTC Bitcoin Tries to Hold Above Tough Conditions‼️‼️‼️
Bitcoin is holding above $66,000 at the time of this writing on Wednesday, maintaining a bearish short-term sentiment, consistent with a decline of about 10% so far this week. BTC is well below the Exponential Moving Averages (EMA) of 50-, 100-, and 200-days at $75,333, $76,121, and $80,706 respectively, indicating the market is still stuck in a corrective phase.
Nonetheless, the Relative Strength Index (RSI) at level 23 on the daily candlestick is in the oversold territory, yet the Moving Average Convergence Divergence (MACD) remains deeply in the negative zone, signaling that bearish momentum is still dominant and hasn't turned decisively.
Looking down, the next significant support level appears around the horizontal level of $65,000, marked by the low of March 29, where buyers are likely to try to halt any deeper declines. However, a potential breakdown below this zone would pave the way to the $60,000 level last seen on February 6.#StrategyFallsOutOfTop200US #AnthropicFilesForIPO $COOKIE $VELVET
Bitcoin is holding above $66,000 at the time of this writing on Wednesday, maintaining a bearish short-term sentiment, consistent with a decline of about 10% so far this week. BTC is well below the Exponential Moving Averages (EMA) of 50-, 100-, and 200-days at $75,333, $76,121, and $80,706 respectively, indicating the market is still stuck in a corrective phase.
Nonetheless, the Relative Strength Index (RSI) at level 23 on the daily candlestick is in the oversold territory, yet the Moving Average Convergence Divergence (MACD) remains deeply in the negative zone, signaling that bearish momentum is still dominant and hasn't turned decisively.
Looking down, the next significant support level appears around the horizontal level of $65,000, marked by the low of March 29, where buyers are likely to try to halt any deeper declines. However, a potential breakdown below this zone would pave the way to the $60,000 level last seen on February 6.#StrategyFallsOutOfTop200US #AnthropicFilesForIPO $COOKIE $VELVET