📉 $BTC Update
Bitcoin continues to trade under strong technical pressure, staying well below the EMA 100. The bearish outlook shared on June 9 remains valid.
At the time of that analysis, $BTC was trading near $62K. It now sits around $60.3K, while the EMA 100 has climbed to roughly $80.6K. The rejection near $84K confirmed that the long-term descending trendline is still intact.
For now, $53.5K stands out as the next key support zone, with $47K below it as the next major level if selling continues.
A weekly close above $69K would improve the technical outlook. Until then, rallies may continue to face heavy selling pressure.
#BTC #Bitcoin #crypto
Bitcoin continues to trade under strong technical pressure, staying well below the EMA 100. The bearish outlook shared on June 9 remains valid.
At the time of that analysis, $BTC was trading near $62K. It now sits around $60.3K, while the EMA 100 has climbed to roughly $80.6K. The rejection near $84K confirmed that the long-term descending trendline is still intact.
For now, $53.5K stands out as the next key support zone, with $47K below it as the next major level if selling continues.
A weekly close above $69K would improve the technical outlook. Until then, rallies may continue to face heavy selling pressure.
#BTC #Bitcoin #crypto