$BTC Shows Signs of Weakness‼️‼️‼️‼️
Bitcoin, the largest cryptocurrency, was trading around US$80,415 on Monday after correcting 2.39% over the past week, marking three consecutive weeks of weakness since early October.
⛔If the correction continues, BTC could extend its decline toward the 61.8% Fibonacci retracement level at US$78,661, measured from the August 2024 low of US$49,000 to the October 2025 record high of US$126,199.
➡️This level is relatively close to the 50-week Simple Moving Average (SMA) at US$75,817.
🔥Conversely, if BTC manages to recover, gains could continue toward the 50% Fibonacci retracement level at US$87,823, followed by the 100-week SMA at US$89,386.
📈On the daily chart, BTC is still consolidating with a neutral bias, holding above the 100-day and 200-day Exponential Moving Averages (EMAs) at US$77,691 and US$76,306, respectively, while its gains remain capped by the 50-day EMA at US$80,816.
📈Price action between these trend indicators suggests that the overall bullish outlook remains intact, despite being clouded by short-term market uncertainty. Meanwhile, the daily Relative Strength Index (RSI) at 43 indicates weakening momentum, while the Moving Average Convergence Divergence (MACD) remains below the zero line, reflecting a lack of bullish momentum.
🥁To the upside, the nearest resistance is at the 50-day EMA at US$80,816, followed by a stronger hurdle at the horizontal level around US$85,000, where selling pressure could re-emerge.
🕹Conversely, initial support is at the 100-day EMA at US$77,691, before price tests the stronger structural support at the 200-day EMA around US$76,306. A daily close below both moving averages could shift the short-term bias back in a more bearish direction.
#EarningsSeason #SouthKoreaReportedlyWeighsFourthCryptoTaxDelay $SAHARA $SYRUP
Bitcoin, the largest cryptocurrency, was trading around US$80,415 on Monday after correcting 2.39% over the past week, marking three consecutive weeks of weakness since early October.
⛔If the correction continues, BTC could extend its decline toward the 61.8% Fibonacci retracement level at US$78,661, measured from the August 2024 low of US$49,000 to the October 2025 record high of US$126,199.
➡️This level is relatively close to the 50-week Simple Moving Average (SMA) at US$75,817.
🔥Conversely, if BTC manages to recover, gains could continue toward the 50% Fibonacci retracement level at US$87,823, followed by the 100-week SMA at US$89,386.
📈On the daily chart, BTC is still consolidating with a neutral bias, holding above the 100-day and 200-day Exponential Moving Averages (EMAs) at US$77,691 and US$76,306, respectively, while its gains remain capped by the 50-day EMA at US$80,816.
📈Price action between these trend indicators suggests that the overall bullish outlook remains intact, despite being clouded by short-term market uncertainty. Meanwhile, the daily Relative Strength Index (RSI) at 43 indicates weakening momentum, while the Moving Average Convergence Divergence (MACD) remains below the zero line, reflecting a lack of bullish momentum.
🥁To the upside, the nearest resistance is at the 50-day EMA at US$80,816, followed by a stronger hurdle at the horizontal level around US$85,000, where selling pressure could re-emerge.
🕹Conversely, initial support is at the 100-day EMA at US$77,691, before price tests the stronger structural support at the 200-day EMA around US$76,306. A daily close below both moving averages could shift the short-term bias back in a more bearish direction.
#EarningsSeason #SouthKoreaReportedlyWeighsFourthCryptoTaxDelay $SAHARA $SYRUP
