BTCUSD sellers pressure the price towards the $64,000 support level
BTCUSD sellers gain more momentum as the price tests the $64,000 support zone. Buyers recently attempted to push the price higher, but their efforts were short-lived as sellers quickly regained control.
BTCUSD Key Levels
Supply Levels: $72,000, $73,860
Demand Levels: $60,400, $64,000
Technical indicators suggest that sellers control market momentum. The Momentum indicator is slipping lower, indicating that buyers are losing traction. The Parabolic SAR (Stop and Reverse) indicator is also trending lower as the price heads south, showing that buyers remain subdued. After losing confidence, buyers have been unable to regain strength this week.
On the 4-hour chart, sellers continue to exert pressure, and further dominance could lead to a breakout below the $64,000 key support level. Both the Parabolic SAR and the Momentum indicator suggest that sellers are in control of the market’s direction. To navigate these market conditions, traders should consider using the best crypto signals available.
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