$BTC The downward momentum remains as sell signals dominate the technical data
The momentum remains bearish, with the daily and weekly MACD indicating strong sell signals and the D1 ADX showing continued bearish strength. Neither the RSI (44.72) nor the CCI (27.64) indicate oversold conditions on D1, while the Stochastic RSI is in strongly selling territory and the BBP highlights a persistent dominance of sellers. The session opened lower without significant gap and remains near the low of the day's range after sliding 2.27%, with volatility described as moderate and an intraday tone reflecting ongoing pressure after the opening. The awesome oscillator is neutral, with overall momentum and oscillators confirming the ongoing bearish movement.
High downside risk due to consolidation within support limits
For the next five trading days, the expected price range for Bitcoin is $86,000 to $92,000, reflecting typical volatility compared to the current level. The likelihood of a further price drop is very high (over 80%), while a significant rise is much less probable. The base scenario anticipates Bitcoin consolidating sideways between the indicated limits, with a bullish scenario requiring sustained break above the MA-50 towards $92,500-$94,000. If Bitcoin falls below the Ichimoku support near $88,300, losses could accelerate towards $86,000.
