BTC may decrease to 68 thousand dollars in the event of a failure to support 80 thousand dollars
Bitcoin continues to hover near the range between 82000 and 85,000 dollars, as buyers are struggling to restore momentum, while the main data on the chain alludes to interesting basic dynamics.
Technical analysis
Daily chart
In the daily time frame, BTC tries to defend the 80,000 support zone after another $ 88,000 resistance and the moving average for 200 days nearby, which is now working as a dynamic barrier. The price remains between 80,000 dollars and $ 88,000, with no clear directional accuracy yet.
The relative strength index also declined to the bottom of the midfield after its failure to fracture above 60, indicating that there is no strong momentum. Buyers need to see a confirmed daily closure of more than $ 88,000 to nullify the highest levels of the lowest level and prepare a level of $ 92,000. On the negative side, any clean break may open less than $ 80,000, the path is about $ 74,000 and up to $ 68,000.
The graph for 4 hours
On the graph for 4 hours, BTC was recently rejected sharply from the red resistance area about $ 88,000 after merged it for several days. This strong rejection, followed by a rapid decrease in the range of $ 82,000, indicates that the short -term supply is still strong.
Moreover, the relative strength index may calm down from excessive peak levels, and it is now heading near 40, indicating a loss in the upscale momentum. Currently, $ 80,000 is still the line in the sand, while the region ranges between 86,500 dollars – $ 88,000 is still attempts to the upward trend. A break on both sides of this range is likely to lead to the next impulsive step.
Series analysis
MINER (EMA 30) Reserve
The Miner Reserve Reserve continues to decrease in the long run, which represents one of the most sustainable distribution trends by miners in the years. This fixed pressure on the sale aspect of mines indicates that they get profits constantly throughout the gathering, with the reserve now at its lowest levels in several years near 1.81 million BTC.
Although this continuous reduction did not cause a structural collapse in the price, it adds a layer of width pressure that can affect the gatherings, especially if the demand for retail is relieved. It also means that miners may expect prices to decrease or simply prepare liquidity before half, which makes this main measure of monitoring in the coming weeks.
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