Pattern: EMA Retest (Potential Breakdown Risk)
The chart shows Bitcoin (BTC) facing notable bearish pressure after recent highs. Price is currently testing the 50-week EMA, a historically important support zone that has previously triggered strong bullish rebounds. However, current momentum shows weakness as sellers dominate.
Key Observations
🔹 Support Zone: Around $100,900 (50 EMA) — acting as critical dynamic support.
🔹 June Low Support: Near $98,200, the next major level to monitor.
🔹 Bearish Candle: BTC down nearly 8% for the week, showing strong selling pressure.
🔹 Bull Bear Power (BBP) Indicator: signaling that bearish strength outweighs bullish demand, and selling momentum remains strong.
🔹 Previous Bounces: The last two retests of the 50-week EMA (circled) led to solid recoveries, but this time, price action looks weaker and sentiment more cautious.
Potential Move
If BTC fails to hold above the 50-week EMA, further downside targets could be:
🎯 Target 1: $95,000
🎯 Target 2: $90,000
Conversely, a strong bullish reaction from the 50 EMA may spark a rebound phase and signal renewed accumulation.
Summary:
Bitcoin is currently at a critical support retest on the 50-week EMA. The Bear Power indicator suggests growing downside pressure, and a weekly close below $100K could confirm a deeper correction. Holding this zone, however, might preserve the broader uptrend.
#Bitcoin #BTC #BTCUSDT #CryptoAnalysis #TechnicalAnalysis #TradingView #CryptoTraders #CryptoMarket #BullBearPower
The chart shows Bitcoin (BTC) facing notable bearish pressure after recent highs. Price is currently testing the 50-week EMA, a historically important support zone that has previously triggered strong bullish rebounds. However, current momentum shows weakness as sellers dominate.
Key Observations
🔹 Support Zone: Around $100,900 (50 EMA) — acting as critical dynamic support.
🔹 June Low Support: Near $98,200, the next major level to monitor.
🔹 Bearish Candle: BTC down nearly 8% for the week, showing strong selling pressure.
🔹 Bull Bear Power (BBP) Indicator: signaling that bearish strength outweighs bullish demand, and selling momentum remains strong.
🔹 Previous Bounces: The last two retests of the 50-week EMA (circled) led to solid recoveries, but this time, price action looks weaker and sentiment more cautious.
Potential Move
If BTC fails to hold above the 50-week EMA, further downside targets could be:
🎯 Target 1: $95,000
🎯 Target 2: $90,000
Conversely, a strong bullish reaction from the 50 EMA may spark a rebound phase and signal renewed accumulation.
Summary:
Bitcoin is currently at a critical support retest on the 50-week EMA. The Bear Power indicator suggests growing downside pressure, and a weekly close below $100K could confirm a deeper correction. Holding this zone, however, might preserve the broader uptrend.
#Bitcoin #BTC #BTCUSDT #CryptoAnalysis #TechnicalAnalysis #TradingView #CryptoTraders #CryptoMarket #BullBearPower
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.