BTC/USD Slips as Sellers Take Charge

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more

BTC/USD (Bitcoin) Slumps as Bears Extend Control

BTC/USD is slipping as sellers take charge, with Bitcoin experiencing a downturn as bears strengthen their grip on the market. The recent price movement saw Bitcoin falling below the crucial $90,000 level, triggering a sell-off that has left buyers struggling to regain momentum.

BTC/USD Key Levels

Support Levels: $84,260, $80,000
Resistance Levels: $90,000, $92,500
In recent weeks, buyers have faced continuous challenges in their attempts to drive the market upward. After a period of accumulation, sellers capitalized on the negative sentiment, causing Bitcoin to slide to the $84,260 key level. Current market sentiment suggests that sell traders are reinforcing their positions, increasing the likelihood of further downward pressure.

The Parabolic SAR (Stop and Reverse) indicator confirms that sellers remain firmly in control, maintaining their downward momentum. This bearish strength continues to dominate the market, raising concerns for buyers hoping to regain control.

Despite the prevailing bearish pressure, the Stochastic Oscillator offers some insight into buyer activity, indicating that buyers are attempting to regain strength. However, the oscillator’s signal line continues to move lower, aligning with the ongoing bearish trend in BTC/USD.

Market Expectation

In the short term, bears seem poised for further attacks, and selling pressure is expected to persist as the market searches for a bottom. While the immediate outlook remains bearish, a potential reversal could emerge if buyers manage to consolidate.
If buyers succeed in stabilizing around the $84,260 level and begin to accumulate, there may be room for a bullish turnaround. However, if sellers maintain their dominance, the next target could be a decline toward the $80,000 mark. Traders monitoring crypto signals will be watching closely for signs of a shift in momentum.

Make money without lifting your fingers: Start using a world-class auto trading solution

How To Buy Lucky Block

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.