The last Bitcoin decrease has reached a cash turning point, as it tests important support levels after a break from a multi -price channel.
Although the short -term momentum looks weak, long -term long -term standards may bear the key to understanding whether this correction has a negative side or if buyers will retreat soon.
Technical analysis
Daily chart
On the daily chart, BTC has officially broken less than 200 days moving average, located on the mark of $ 88,000, an important technical element often determines the direction. This violation comes after weeks from the side to the basic procedure for prices, with multiple rejection operations from the resistance area from 88 thousand dollars to 92 thousand dollars.
The original is currently hovering around the range of $ 77,000 to $ 78,000, just higher than the strong demand zone near 74,000 dollars. The relative strength index has also decreased near the sale area, indicating the declining momentum, but also hints to a possible exhaustion. If $ 74,000 fails to keep it, the following important support is about 68 thousand dollars, while recovery above 80 thousand dollars can open the door for another test of 84 thousand dollars and eventually 200 DMA.
The graph for 4 hours
The 4H time frame draws a clearer picture of the last collapse. After weeks of monotheism inside an ascending channel, BTC decisively separated to the negative side, which led to a wave of liquidation and fear.
The price briefly decreased to 74 thousand dollars before a liar and re -testing the resistance level of $ 80,000. This rejection has led to a decrease in height, which enhances control of short -term landing. Moreover, RSI began to recover from deep sales lands, but the structure still prefers sellers unless BTC was able to turn $ 80,000 to support and restore 82 thousand dollars to 84 thousand dollars.
Series analysis
Sopl average (Asopr – EMA 30)
The modified Sophie remains slightly higher than the neutral threshold at about 1.1, indicating that, on average, holders are still selling BTC with profit. However, the declining trend in Asopr is noticeable and indicates that profitability across the network is shrinking. If this trend continues and decreases or decreases to less than 1, the increasing surrender and a short -term dipal feeling may reflect.
Currently, though, the market has not entered the full loss area, leaving room for more negative pressure before a possible scenario at the bottom. Investors must now see how quickly ASOPR stabilizes. Keeping more than that can be a rapid recovery support, while the decrease below may indicate a wider behavior of risk.
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