Bitcoin shed -2.46% today, reversing sharply lower from the top of its descending channel and the 50-day SMA, reaffirming resistance just below $88,700. The rejection puts focus back on the 200-day SMA and mid-channel support.
🔻 Price remains firmly inside the falling channel
📉 MACD is flattening below zero — no bullish crossover yet
⚖️ RSI sits at 44 — modest bearish momentum without being oversold
If price breaks below $79,000, eyes may turn to the lower channel boundary near $72,000, and eventually the long-term trendline closer to $68,000.
Momentum is weak and trend pressure remains tilted downward unless bulls can reclaim the 50-day SMA and break out of this channel decisively.
-MW
🔻 Price remains firmly inside the falling channel
📉 MACD is flattening below zero — no bullish crossover yet
⚖️ RSI sits at 44 — modest bearish momentum without being oversold
If price breaks below $79,000, eyes may turn to the lower channel boundary near $72,000, and eventually the long-term trendline closer to $68,000.
Momentum is weak and trend pressure remains tilted downward unless bulls can reclaim the 50-day SMA and break out of this channel decisively.
-MW
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.