$BTC – Cracking Under Key Moving Averages, Bears Eyeball Deeper Selloff
Trading Plan: Short $BTC
Entry: 59,250 – 59,800
SL: 60,600
TP 1: 58,050
TP 2: 57,100
TP 3: 55,500
The 4-hour chart shows Bitcoin breaking down continuously, maintaining a clear bearish structure. $BTC is trading well below its short and long-term Moving Averages (MA 7, 25, and 99), turning recent support zones into overhead resistance. A brief retest near the 60,000 level saw heavy selling pressure, forming consecutive red candles pushing toward the recent low of 58,030. If this level fails to hold, accelerated liquidation could trigger a slide into the major 55K liquidity pool.
Trade $BTC here 👇
What Experts & Major Crypto Outlets Say About This Move:
Coingecko & Market Analysts: Point out that Bitcoin has entered a strong correction phase, losing over 7.5% in the last 7 days and nearly 20% in the last month. The failure to reclaim the $60k psychological support has shifted mid-term momentum completely in favor of the bears.
Technical Analysts: Highlight that the descending MA(99) line at 63,074 acting as massive macro resistance confirms institutional distribution. Most reliable on-chain data trackers suggest that until
$ BTC firmly recaptures 61,500, every minor relief bounce is a prime target for short sellers looking to test deeper support structures.
Trading Plan: Short $BTC
Entry: 59,250 – 59,800
SL: 60,600
TP 1: 58,050
TP 2: 57,100
TP 3: 55,500
The 4-hour chart shows Bitcoin breaking down continuously, maintaining a clear bearish structure. $BTC is trading well below its short and long-term Moving Averages (MA 7, 25, and 99), turning recent support zones into overhead resistance. A brief retest near the 60,000 level saw heavy selling pressure, forming consecutive red candles pushing toward the recent low of 58,030. If this level fails to hold, accelerated liquidation could trigger a slide into the major 55K liquidity pool.
Trade $BTC here 👇
What Experts & Major Crypto Outlets Say About This Move:
Coingecko & Market Analysts: Point out that Bitcoin has entered a strong correction phase, losing over 7.5% in the last 7 days and nearly 20% in the last month. The failure to reclaim the $60k psychological support has shifted mid-term momentum completely in favor of the bears.
Technical Analysts: Highlight that the descending MA(99) line at 63,074 acting as massive macro resistance confirms institutional distribution. Most reliable on-chain data trackers suggest that until
$ BTC firmly recaptures 61,500, every minor relief bounce is a prime target for short sellers looking to test deeper support structures.