Bitcoin is trading around $71,300–$71,750 after losing the SMA-200 (~$73,100). Bearish pressure is dominating in the short term, but indicators are already showing signs of exhaustion.
📊 Market highlights:
• Extreme oversold conditions: The daily RSI is hovering around 28.6 points, and the stochastic is hitting lows (~5.5). Conditions are set for a possible technical rebound, although the MACD remains bearish.
• Institutional flows: Recent outflows from Spot ETFs (+$430M) and significant BTC transfers to exchanges (~$3,600M) are keeping order books cautious.
• Dominance: Holding firm at 60.8%.
🎯 Levels to watch:
🟢 Resistance: $73,100 (SMA-200) and $74,850 (key level to invalidate the bearish bias).
🔴 Support: $71,130 (immediate floor). If it breaks on volume, the next target is $68,800–$69,690.
💡 Main scenario: Sideways consolidation between $68,800 and $73,600 as the market digests selling pressure.
Do you think $71K will hold, or are we going to look for liquidity lower down? 👇💬 $BTC #trading #BinanceSquare #cryptonews
📊 Market highlights:
• Extreme oversold conditions: The daily RSI is hovering around 28.6 points, and the stochastic is hitting lows (~5.5). Conditions are set for a possible technical rebound, although the MACD remains bearish.
• Institutional flows: Recent outflows from Spot ETFs (+$430M) and significant BTC transfers to exchanges (~$3,600M) are keeping order books cautious.
• Dominance: Holding firm at 60.8%.
🎯 Levels to watch:
🟢 Resistance: $73,100 (SMA-200) and $74,850 (key level to invalidate the bearish bias).
🔴 Support: $71,130 (immediate floor). If it breaks on volume, the next target is $68,800–$69,690.
💡 Main scenario: Sideways consolidation between $68,800 and $73,600 as the market digests selling pressure.
Do you think $71K will hold, or are we going to look for liquidity lower down? 👇💬 $BTC #trading #BinanceSquare #cryptonews