Today’s Chart: Bitcoin Fails to Reach $80,000 Support Level Bitcoin is trading lower amid bearish technical indicators, reflecting the prevailing risk-off sentiment in the cryptocurrency market. The leading digital currency is notably trading below the 50-day exponential moving average at $90,730, the 100-day EMA at $94,287, and the 200-day EMA at $98,155, maintaining downward momentum. Selling pressure is unlikely to ease as the Moving Average Convergence Divergence (MACD) remains below its signal line on the daily chart, encouraging investors to reduce their exposure. The Relative Strength Index (RSI) at 31 on the daily chart indicates a potential move into oversold territory, confirming bearish expectations. However, if market sentiment improves and bullish traders capitalize on the price decline, this could lead to a trend reversal and push Bitcoin above the support level that has turned into resistance at $84,450. Daily chart of the BTC/USDT pair

Today’s Chart: Bitcoin Fails to Reach $80,000 Support Level Bitcoin is trading lower amid bearish technical indicators, reflecting the prevailing risk-off sentiment in the cryptocurrency market. The leading digital currency is notably trading below the 50-day exponential moving average at $90,730, the 100-day EMA at $94,287, and the 200-day EMA at $98,155, maintaining downward momentum. Selling pressure is unlikely to ease as the (MACD) remains below its signal line on the daily chart, encouraging investors to reduce their exposure. The (RSI) at 31 on the daily chart indicates a potential move into oversold territory, confirming bearish expectations. However, if sentiment improves and bullish traders capitalize on the price decline, this could lead to a trend reversal and push Bitcoin above the support level that has turned into resistance at $84,450. Daily chart of the BTC/USDT pair

After 300 days, BTC drops below 8 figures! How many more are out on the rooftops bragging? Honestly, it's quite sad. The market is roaring again. As of now, longs have been liquidated for $2.4 billion. Although expected, it’s still hard to accept when it actually happens. In two weeks, the price dropped from 9700 to 7500, a plunge of 20,000 points. This time is different from the black swan on 10.11; that was an unexpected event. This time, the lack of confidence due to no rate cuts has led major players to exit one after another. Who knows when we will see the 120K Bitcoin again! We also discussed on Friday that if it breaks below 8060, it will directly head towards 7500. The market gave two rebound levels at 8340-8450 to wait and see. As expected, the market plummeted, breaking below 8000 and accelerating down to 7500. Is a drop of tens of thousands of points considered bold? Human joys and sorrows are not connected; some rejoice while others worry. The market is always cruel. The logic of market movement is Power-Time-Volume, all three are indispensable. Without enough understanding, how can one laugh last just by a sudden impulse? $BTC #加密市场回调