Bitcoin Analysis – Testing Key Support With Bearish Momentum Increasing
Bitcoin continues to break supports aggressively, raising the possibility of revisiting the 75,000 zone. Price is currently sitting on a major support at 83,000, a level that has held multiple times in previous corrections. This area will determine whether BTC stabilizes or continues its decline.
From a technical perspective, BTC is showing:
Clear lower highs and lower lows, confirming a bearish structure.
Strong bearish candles breaking through intermediate supports with conviction.
A lack of liquidity zones between 83,000 and 75,000, meaning that if 83K fails, price can drop quickly.
Oversold signals starting to appear on lower timeframes, increasing the probability of short-term consolidation.
On the fundamental side, several key elements are weighing on BTC:
Risk-off sentiment in global markets as equities correct and the U.S. dollar strengthens.
ETF outflows over the past days, showing reduced institutional demand.
Miners increasing selling, likely due to profitability pressure post-halving.
Lower liquidity in crypto markets heading into the weekend, making sharp moves more likely.
If Bitcoin holds 83,000, we may see a sideways consolidation before attempting a rebound. But if this level breaks, the path toward 75,000 is wide open, with no major support blocking the move.
Bitcoin continues to break supports aggressively, raising the possibility of revisiting the 75,000 zone. Price is currently sitting on a major support at 83,000, a level that has held multiple times in previous corrections. This area will determine whether BTC stabilizes or continues its decline.
From a technical perspective, BTC is showing:
Clear lower highs and lower lows, confirming a bearish structure.
Strong bearish candles breaking through intermediate supports with conviction.
A lack of liquidity zones between 83,000 and 75,000, meaning that if 83K fails, price can drop quickly.
Oversold signals starting to appear on lower timeframes, increasing the probability of short-term consolidation.
On the fundamental side, several key elements are weighing on BTC:
Risk-off sentiment in global markets as equities correct and the U.S. dollar strengthens.
ETF outflows over the past days, showing reduced institutional demand.
Miners increasing selling, likely due to profitability pressure post-halving.
Lower liquidity in crypto markets heading into the weekend, making sharp moves more likely.
If Bitcoin holds 83,000, we may see a sideways consolidation before attempting a rebound. But if this level breaks, the path toward 75,000 is wide open, with no major support blocking the move.
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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.