Bitcoin found short-term support despite the declining crypto market sentiment on September 17.

According to Cointelegraph Markets Pro and TradingView data, BTC price returned to $58,000 in the Asian trading session.

After a broad sell-off at the Wall Street open, BTC/USD has stabilized around the 21-day simple moving average (SMA).

The 21-day SMA and 50-week SMA are at $57,858 and $53,945, respectively.

Popular trader Jelle noted that the 50-week exponential moving average (EMA) is acting as market support.

Crypto trader Michaël van de Poppe predicts BTC price discovery will occur next month.

Josh Rager, on the other hand, said the market outlook remains uncertain.

The Crypto Fear & Greed Index fell to 33/100 on September 17, indicating that market sentiment has shifted from “neutral” to “fear.”