The
BTCUSDT chart on the 1D timeframe presents a critical moment as Bitcoin remains below the EMA ribbon, which has now turned bearish. This signals a potential continuation of the downward momentum unless bulls regain control.Currently, the price is rejecting the previous support level, now acting as resistance, reinforcing the bearish case. If BTC fails to reclaim $95,000, the probability of further downside increases significantly.
If the rejection at this resistance level continues, the next key support zones to watch are $81,500, followed by the major support at $71,500. The latter serves as a strong accumulation zone where buyers may step in for a potential rebound.
👨🏻💻💭 Will BTC manage to reclaim $95,000 and shift back to bullish, or are we heading toward $71,500? Share your thoughts and let’s analyze the setup!
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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.