Current Scenario: Bitcoin experiences a 1% decline, signaling a bearish start to the week.
Support Test: There's a growing challenge to the
41K
support zone and the support trendline.
Potential Crash Alert: Warnings of a possible dip to $38K are emerging.
Market Influence: Lack of positive impact from S&P 500's two-year high.
Crypto Market Cap Situation: Total market cap at $1.573 trillion testing the 50-day EMA.
Technical Outlook: Bitcoin struggles with the loss of the 50-day EMA and the 23.60% Fibonacci level.
Immediate Bearish Signals: Increased sell-off momentum threatening a deeper pullback.
Key Support Line: The support trendline remains a pivotal reversal point.
Options Market Insight: Call options outnumber puts, suggesting bullish trader interest.
Trading Volumes: Call options dominate with 54.42% of the volume.
Technical Indicators: MACD and signal lines indicate a downward trend.
Resistance Watch: If a bounce back occurs, the key resistance to watch is at $46,758.
Support Test: There's a growing challenge to the
41K
support zone and the support trendline. Potential Crash Alert: Warnings of a possible dip to $38K are emerging.
Market Influence: Lack of positive impact from S&P 500's two-year high.
Crypto Market Cap Situation: Total market cap at $1.573 trillion testing the 50-day EMA.
Technical Outlook: Bitcoin struggles with the loss of the 50-day EMA and the 23.60% Fibonacci level.
Immediate Bearish Signals: Increased sell-off momentum threatening a deeper pullback.
Key Support Line: The support trendline remains a pivotal reversal point.
Options Market Insight: Call options outnumber puts, suggesting bullish trader interest.
Trading Volumes: Call options dominate with 54.42% of the volume.
Technical Indicators: MACD and signal lines indicate a downward trend.
Resistance Watch: If a bounce back occurs, the key resistance to watch is at $46,758.