Darren Easton on Nostr: Short-term bearish: #Bitcoin has broken below the 0.382 Fibonacci level ($93,163) and ...
Short-term bearish: #Bitcoin has broken below the 0.382 Fibonacci level ($93,163) and is nearing 0.5 Fib ($88,143) support. Further downside may target $83,124 (0.618 Fib).
Moving averages: Short-term MAs are turning bearish, but the 200-day MA ($64K) suggests a long-term uptrend is intact.
Volume: Selling pressure is increasing, confirming the downtrend.
Key levels: Support at $88K and $83K, resistance at $93K and $99K.
Overall: A short-term correction, but a bounce from key support levels could revive bullish momentum.
Moving averages: Short-term MAs are turning bearish, but the 200-day MA ($64K) suggests a long-term uptrend is intact.
Volume: Selling pressure is increasing, confirming the downtrend.
Key levels: Support at $88K and $83K, resistance at $93K and $99K.
Overall: A short-term correction, but a bounce from key support levels could revive bullish momentum.