Bitcoin Buyers Struggle to Maintain Momentum Amid Market Pressure

Bitcoin Buyers Struggle Under Market Pressure

Bitcoin buyers are struggling to sustain upward momentum amid market pressure. The BTCUSD buyers have experienced a significant run recently, with the crypto price recovering lost ground after reversing from the $53,470 price level. This key zone has been the furthest the sellers have been able to penetrate over the past few months.

BTCUSD Key Levels

Supply Levels: $69,000 and $72,000
Demand Levels: $60,670, $66,800
BTCUSD cryptocurrency has declined from the $72,000 resistance level since last month, but the sell pressure seems to have weakened for now. The buyers have been building strength and showing a strong reversal this week, with bullish momentum pushing up to the $62,500 market area.

The buyers are aiming to push towards the $66,440 significant level, but recent trades have shown a lag in momentum, indicating that the buyers may be feeling the pressure. The Moving Average crossing is close to signaling the end of the bearish trend over the long-term timeframe. The buyers can only make a serious push for advancement this week, as market pressure continues to challenge their efforts to maintain momentum.

Market Expectation

Looking lower, the pressure from sellers is already manifesting, which could drag down the Bitcoin price. The Momentum indicator reflects a buy motion on the decline, and the Moving Average crossing is still closing in before spreading. Nevertheless, buyout expansion remains inevitable for the Bitcoin price. Crypto signals suggest that despite the current market pressure, the overall outlook for Bitcoin remains positive as buyers continue their efforts to regain control.

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