Is it formed soil or simple rest? Analysis of BTC after the drop.
The current landscape of Bitcoin shows an intense battle between supply and demand. After a significant correction from $97,932, the price seems to be searching for a stabilization zone. Here are the key points:
1. Price Action and Moving Averages (EMA)
Short-Term Bearish Trend: The price is operating below the 20-period EMA (green line), which now acts as a dynamic resistance near $76,211.
Gap with the 200 EMA: We are considerably far from the 200 EMA (purple line) located at $95,132, confirming that the previous bullish momentum has completely cooled down.
Critical Support: The recent low at $59,800 is the line in the sand. If we lose that level, we could see a deeper capitulation.
2. Strength Indicators (RSI)
The 10-period RSI marks 28.4, which technically places Bitcoin in oversold territory.
Reading: Historically, these levels tend to precede technical rebounds or consolidation periods (range). However, the 45 and 90-period RSI remains low, suggesting that selling pressure still holds weight.
3. Technical Projection
Bullish Scenario: We need to recover the level of $67,500 with volume to attempt to test the 20 EMA.
Bearish Scenario: If the price does not manage to bounce back soon, the magnet of $60,000 will be activated again, tempting bears to seek new annual lows.
Conclusion for the Community
We are in a "wait and see" zone. The oversold invites staggered purchases (DCA), but the market structure remains of "lower highs." Be careful with leverage in this volatility zone!
Do you think $60k is the definitive bottom or will we see a wick lower? I read your comments. 👇
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