Bitcoin (BTCUSD) Under Bearish Pressure as BTCUSD Declines

Azeez Mustapha

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 6-month subscription

Select

£399

 lifetime subscription

Select

£50

 Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.



BTCUSD continues to face bearish pressure, with the bears maintaining control of the market. The current situation can be attributed to a sense of indecision among the buying base, particularly around the significant level of $30410.0. This uncertainty has allowed the bears to drive the coin’s price downward. Despite the buyers’ efforts to hold on, the overall market sentiment remains in the bears’ favor.

BTCUSD Key Levels
Supply Levels: $30410.0, $34760.0, $37790.0
Demand Levels: $24810.0, $19460.0, $16360.0

Bitcoin (BTCUSD) Under Bearish Pressure as BTCUSD Declines

However, BTCUSD buyers can turn the tide in their favor. A potential strategy for them is to wait for a rebound off the MA period 50 (Moving Average), which is positioned below the daily candlesticks. If the coin finds support and bounces off this Moving Average, it could signal a shift in momentum toward the buyers.

As for the technical indicators, the EFI (Elders Force Index) power line has dipped into negative territory, indicating the bearish force that prevails in the market. This aligns with the overall downward movement in the coin’s price. On the 4-hour timeframe, the MA period 50 further lends credence to the market’s bearish sentiment. The line has risen above the 4-hour candlesticks.

Bitcoin (BTCUSD) Under Bearish Pressure as BTCUSD Declines

Market Expectations

There is, however, a slight positive sign for the bulls in the 4-hour timeframe. The EFI line indicates an upward trend, moving closer to the zero level, which suggests a rise in buying interest. However, despite the positive signals, the buyers face a significant challenge. They have to break through the stubborn resistance at the $30410.0 level to gain market control. Failure to do so decisively could lead to a further decline in the coin’s price, potentially pushing it toward the support level of $24810.0.

 

How To Buy Lucky Block

NoteLearn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *