#比特币 Current price: 70856, down 4.2% over the past 24 hours. The price action has been pretty clean.
Seven days ago, it was still hovering above 75800. Now it’s slid all the way to around 71100, down 5.8% over the past seven days. The highs keep getting lower: 76300, 75477, 74695. The lows are also moving down. MA7 (72674) has fallen below MA25 (73827), a textbook bearish trend alignment.
The indicators confirm the picture: RSI 14 has dropped to 29.3, nearing oversold territory; the MACD has formed a death cross below the zero line, with the histogram at -231; and the price has slipped below the lower Bollinger Band at 71554. Volume hasn’t tapered off either: yesterday’s 28.2B was higher than the 7-day average of 25B, as the price fell on increasing volume.
First, watch the 7-day low at 71143. If it fails to hold, the next level to watch is the round-number mark at 70000. The first major hurdle above is around 73600, where the Bollinger middle band and a cluster of minor highs converge. Unless the price can reclaim that level, the bears remain in control.
$BTC
Seven days ago, it was still hovering above 75800. Now it’s slid all the way to around 71100, down 5.8% over the past seven days. The highs keep getting lower: 76300, 75477, 74695. The lows are also moving down. MA7 (72674) has fallen below MA25 (73827), a textbook bearish trend alignment.
The indicators confirm the picture: RSI 14 has dropped to 29.3, nearing oversold territory; the MACD has formed a death cross below the zero line, with the histogram at -231; and the price has slipped below the lower Bollinger Band at 71554. Volume hasn’t tapered off either: yesterday’s 28.2B was higher than the 7-day average of 25B, as the price fell on increasing volume.
First, watch the 7-day low at 71143. If it fails to hold, the next level to watch is the round-number mark at 70000. The first major hurdle above is around 73600, where the Bollinger middle band and a cluster of minor highs converge. Unless the price can reclaim that level, the bears remain in control.
$BTC
