Bitcoin is showing clear signs of a breakdown from a rising wedge pattern, a classic bearish reversal structure. The chart suggests that BTC failed to sustain momentum above key moving averages and is now heading toward critical support zones.
Key Observations:
🔹 Rising Wedge Breakdown: BTC recently broke below a rising wedge, indicating potential further downside.
🔹 Moving Averages as Resistance: The 200 SMA (blue) and 50 SMA (yellow) are acting as resistance, confirming bearish momentum.
🔹 Support & Target Levels:
First Target: Around $79,845 - $78,516, aligning with previous structure support.
Second Target: $75,762 - $72,500, where strong demand could emerge.
What’s Next?
Bearish Case: If Bitcoin fails to hold the $78,000-$79,000 zone, we could see further declines toward $72,500.
Bullish Rebound: A strong bounce from support levels could push BTC back toward $85,000, but it needs to reclaim key moving averages to confirm strength.
🚨 Final Thought: Bitcoin bulls need to step in soon, or we might see deeper corrections ahead. #DeathCross
Key Observations:
🔹 Rising Wedge Breakdown: BTC recently broke below a rising wedge, indicating potential further downside.
🔹 Moving Averages as Resistance: The 200 SMA (blue) and 50 SMA (yellow) are acting as resistance, confirming bearish momentum.
🔹 Support & Target Levels:
First Target: Around $79,845 - $78,516, aligning with previous structure support.
Second Target: $75,762 - $72,500, where strong demand could emerge.
What’s Next?
Bearish Case: If Bitcoin fails to hold the $78,000-$79,000 zone, we could see further declines toward $72,500.
Bullish Rebound: A strong bounce from support levels could push BTC back toward $85,000, but it needs to reclaim key moving averages to confirm strength.
🚨 Final Thought: Bitcoin bulls need to step in soon, or we might see deeper corrections ahead. #DeathCross
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.