Bitcoin 24-Hour Market Notes (Technical Overview)
Timeframe Observed:
• 1 Day (Last 24 hours)
Price Action Summary:
• Previous high zone: ~83,570 USDT
• Daily low: ~75,570 USDT
• Current price area: ~78,479 USDT
• Approximate daily decline: −6%
• Market showed strong bearish momentum with a sharp downside move.
Trend Structure:
• Short-term trend: Bearish
• Price is trading below key moving averages.
• Lower highs and lower lows formed on the daily chart.
Moving Averages Status:
• MA(7): Price trading below
• MA(25): Price trading below
• MA(99): Price significantly below
• Bearish MA alignment confirms selling pressure.
Volume Analysis:
• Volume increased during the drop.
• High sell volume indicates active distribution, not a weak move.
• Suggests stop-losses were triggered below key levels.
Key Support Levels:
• Immediate support: ~75,500–76,000 USDT
• Psychological support: 75,000 USDT
• Buyers showed some reaction near the daily low (long lower wick).
Key Resistance Levels:
• Immediate resistance: ~80,000 USDT
• Strong resistance zone: 82,000–83,500 USDT
• Price must reclaim these levels for trend reversal.
Market Sentiment:
• Short-term sentiment: Fear / Caution
• Volatility remains high.
• Market is unstable for aggressive entries.
Trading Insight (Spot Perspective):
• Avoid emotional buying after a sharp drop.
• Wait for confirmation or consolidation near support.
• Risk management is critical in high-volatility conditions.
Conclusion:
• The market is currently under bearish control.
• A short-term bounce is possible from support, but trend reversal is not confirmed.
• Next sessions will be important to determine continuation or stabilization.
Disclaimer:
• This content is for educational purposes only.
• Not financial advice.
$BTC #MarketCorrection #BEARISH📉 #btcdown