$BTC Bitcoin Falls Below US$75,000 as Bearish Pressure Strengthens📈📈📈
Bitcoin is trading at US$74,444, extending its corrective phase with a short-term bearish bias as prices remain below key Exponential Moving Averages (EMAs). The 200-day EMA at US$76,457, the 100-day EMA near US$77,575, and the 50-day EMA around US$79,141 are all above the price, indicating that the broader uptrend structure is facing challenges, while the SuperTrend line at US$81,375 further reinforces the overhead ceiling.
Momentum remains weak, with the Relative Strength Index (RSI) near 36 and the Moving Average Convergence Divergence (MACD) still negative, indicating that downward pressure has not yet subsided despite occasional rebounds.
📈Initial resistance is at the 200-day EMA around US$76,457, followed by the 100-day EMA at US$77,575, which would need to be decisively broken to ease near-term selling pressure.
Higher up, the 50-day EMA near US$79,141 and the SuperTrend barrier at US$81,375 form a larger supply zone, which is likely to cap gains unless buyers clearly regain control.
💣With no prominent support levels on the daily chart, failure to reclaim these overhead moving averages leaves the risk tilted toward further weakness or a retest of lower price levels toward US$70,000.
#HotCPIDecemberHikePriced #AnthropicRejectsIPODelayValuationinQuestion $RONIN $ETC
Bitcoin is trading at US$74,444, extending its corrective phase with a short-term bearish bias as prices remain below key Exponential Moving Averages (EMAs). The 200-day EMA at US$76,457, the 100-day EMA near US$77,575, and the 50-day EMA around US$79,141 are all above the price, indicating that the broader uptrend structure is facing challenges, while the SuperTrend line at US$81,375 further reinforces the overhead ceiling.
Momentum remains weak, with the Relative Strength Index (RSI) near 36 and the Moving Average Convergence Divergence (MACD) still negative, indicating that downward pressure has not yet subsided despite occasional rebounds.
📈Initial resistance is at the 200-day EMA around US$76,457, followed by the 100-day EMA at US$77,575, which would need to be decisively broken to ease near-term selling pressure.
Higher up, the 50-day EMA near US$79,141 and the SuperTrend barrier at US$81,375 form a larger supply zone, which is likely to cap gains unless buyers clearly regain control.
💣With no prominent support levels on the daily chart, failure to reclaim these overhead moving averages leaves the risk tilted toward further weakness or a retest of lower price levels toward US$70,000.
#HotCPIDecemberHikePriced #AnthropicRejectsIPODelayValuationinQuestion $RONIN $ETC
