Pattern: EMA Retest (Potential Breakdown Risk)
The chart shows Bitcoin (BTC) facing notable bearish pressure after recent highs. Price is currently testing the 50-week EMA, a historically important support zone that has previously triggered strong bullish rebounds. However, current momentum shows weakness as sellers dominate.
Key Observations
🔹 Support Zone: Around $100,900 (50 EMA) — acting as critical dynamic support.
🔹 June Low Support: Near $98,200, the next major level to monitor.
🔹 Bearish Candle: BTC down nearly 8% for the week, showing strong selling pressure.
🔹 Bull Bear Power (BBP) Indicator: signaling that bearish strength outweighs bullish demand, and selling momentum remains strong.
🔹 Previous Bounces: The last two retests of the 50-week EMA (circled) led to solid recoveries, but this time, price action looks weaker and sentiment more cautious.
Potential Move
If BTC fails to hold above the 50-week EMA, further downside targets could be:
🎯 Target 1: $95,000
🎯 Target 2: $90,000
Conversely, a strong bullish reaction from the 50 EMA may spark a rebound phase and signal renewed accumulation.
Summary:
Bitcoin is currently at a critical support retest on the 50-week EMA. The Bear Power indicator suggests growing downside pressure, and a weekly close below $100K could confirm a deeper correction. Holding this zone, however, might preserve the broader uptrend.
#Bitcoin #BTC #BTCUSDT #CryptoAnalysis #TechnicalAnalysis #TradingView #CryptoTraders #CryptoMarket #BullBearPower
The chart shows Bitcoin (BTC) facing notable bearish pressure after recent highs. Price is currently testing the 50-week EMA, a historically important support zone that has previously triggered strong bullish rebounds. However, current momentum shows weakness as sellers dominate.
Key Observations
🔹 Support Zone: Around $100,900 (50 EMA) — acting as critical dynamic support.
🔹 June Low Support: Near $98,200, the next major level to monitor.
🔹 Bearish Candle: BTC down nearly 8% for the week, showing strong selling pressure.
🔹 Bull Bear Power (BBP) Indicator: signaling that bearish strength outweighs bullish demand, and selling momentum remains strong.
🔹 Previous Bounces: The last two retests of the 50-week EMA (circled) led to solid recoveries, but this time, price action looks weaker and sentiment more cautious.
Potential Move
If BTC fails to hold above the 50-week EMA, further downside targets could be:
🎯 Target 1: $95,000
🎯 Target 2: $90,000
Conversely, a strong bullish reaction from the 50 EMA may spark a rebound phase and signal renewed accumulation.
Summary:
Bitcoin is currently at a critical support retest on the 50-week EMA. The Bear Power indicator suggests growing downside pressure, and a weekly close below $100K could confirm a deeper correction. Holding this zone, however, might preserve the broader uptrend.
#Bitcoin #BTC #BTCUSDT #CryptoAnalysis #TechnicalAnalysis #TradingView #CryptoTraders #CryptoMarket #BullBearPower
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.