Make-or-Break Test for $BTC: Support Floor vs Overhead Resistance
Bitcoin is facing intense selling pressure, trading down at $64,883 after sliding 5.74 percent over the past day. Price action is firmly below the 20-hour moving average at $66,498 and the 50-hour moving average at $68,217, confirming strong bearish control. With the 14-period RSI crashing down to 26.1, the market is deeply oversold. While a relief bounce could materialize from the daily low of $64,510, failure to defend this immediate support floor risks a much steeper leg down. Meanwhile, $NFP is getting hammered at $0.00181 with an extreme RSI of 7.5.
Would you rather enter $BTC right now or rotate into $NFP on the pullback?
$BTC $NFP #Bitcoin #CryptoMarket #TradingView
Bitcoin is facing intense selling pressure, trading down at $64,883 after sliding 5.74 percent over the past day. Price action is firmly below the 20-hour moving average at $66,498 and the 50-hour moving average at $68,217, confirming strong bearish control. With the 14-period RSI crashing down to 26.1, the market is deeply oversold. While a relief bounce could materialize from the daily low of $64,510, failure to defend this immediate support floor risks a much steeper leg down. Meanwhile, $NFP is getting hammered at $0.00181 with an extreme RSI of 7.5.
Would you rather enter $BTC right now or rotate into $NFP on the pullback?
$BTC $NFP #Bitcoin #CryptoMarket #TradingView
