Bitcoin Breaks Key Support: What’s Next?
📉 BTC/USD plunges -5.48% to 86,539, breaking below 91,000 support
🔎 Key Technical Breakdown:
Massive rejection at 91,000, flipping it into resistance.
Price is now testing the 200-day EMA (85,641) → Crucial for short-term trend.
Fib retracement levels:
38.2% @ 86,672 (in play now)
50.0% @ 79,616 (next major support)
61.8% @ 72,559 (deeper pullback scenario)
📊 Momentum Shift Bearish:
RSI at 27.26 → Deeply oversold (potential short-term bounce?)
MACD accelerating downward → Bearish confirmation.
⚠️ What’s Next?
Bulls must hold the 200-day EMA or risk a drop toward 79,616 (50% Fib).
A recovery above 91,000 would be needed to shift sentiment bullish again.
Critical moment for BTC – will buyers step in here?
📌 Watching reaction at 86,500-85,600 zone closely.
- MW
🔎 Key Technical Breakdown:
Massive rejection at 91,000, flipping it into resistance.
Price is now testing the 200-day EMA (85,641) → Crucial for short-term trend.
Fib retracement levels:
38.2% @ 86,672 (in play now)
50.0% @ 79,616 (next major support)
61.8% @ 72,559 (deeper pullback scenario)
📊 Momentum Shift Bearish:
RSI at 27.26 → Deeply oversold (potential short-term bounce?)
MACD accelerating downward → Bearish confirmation.
⚠️ What’s Next?
Bulls must hold the 200-day EMA or risk a drop toward 79,616 (50% Fib).
A recovery above 91,000 would be needed to shift sentiment bullish again.
Critical moment for BTC – will buyers step in here?
📌 Watching reaction at 86,500-85,600 zone closely.
- 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.