đ¨ BTC/USDT ASIAN SESSION UPDATE: SHARP CRASH BELOW THE PSYCHOLOGICAL $70,000 LEVEL â WIDESPREAD SELL-OFF
The scenario of breaking below the critical $72,727 low during the U.S. session has officially triggered a wave of cascading liquidations. Bitcoin entered the Asian session with a long-bodied red candle, breaking through the psychological support level of $70,000 and hitting a new low of $69,900.
đ ASIAN SESSION TECHNICAL INDICATORS (4H CHART):
⢠Current price: ~$69,977.16 (down -5.25% over the past 24 hours and falling another -2.52% at the start of the new day).
⢠Selling pressure & new low: The 24-hour high of $73,884.01 was followed by a sharp sell-off to a low of $69,900.00. 24-hour trading volume surged to 1.33 billion USDT (the latest 4H candle alone recorded volume of up to 326 million USDT), confirming panic selling and the liquidation of long positions.
⢠Moving average system: The price has plunged, falling well below both MA(7) = $72,179.92 and MA(25) = $73,708.16. Short-term moving averages are plunging steeply, creating extreme downward pressure.
⢠MACD plunges: The DIF line (-1,073.54) and DEA (-781.41) have sunk deep below the zero line, with the red Histogram bar expanding to a record level (-292.13). Downward momentum is at an extreme oversold level, with no bottoming signal yet.
â ď¸ STRATEGIC PRICE ZONES & MARKET SENTIMENT:
⢠Market cost basis: Still anchored high at $78,600 (now more than $8,600 above the market price), leaving most short-term long positions deeply in the red.
⢠New support & resistance: The $69,900â$70,000 range is now the final psychological boundary. Above it, the $72,180 area (MA7) has turned into firm resistance.
$BTC
The scenario of breaking below the critical $72,727 low during the U.S. session has officially triggered a wave of cascading liquidations. Bitcoin entered the Asian session with a long-bodied red candle, breaking through the psychological support level of $70,000 and hitting a new low of $69,900.
đ ASIAN SESSION TECHNICAL INDICATORS (4H CHART):
⢠Current price: ~$69,977.16 (down -5.25% over the past 24 hours and falling another -2.52% at the start of the new day).
⢠Selling pressure & new low: The 24-hour high of $73,884.01 was followed by a sharp sell-off to a low of $69,900.00. 24-hour trading volume surged to 1.33 billion USDT (the latest 4H candle alone recorded volume of up to 326 million USDT), confirming panic selling and the liquidation of long positions.
⢠Moving average system: The price has plunged, falling well below both MA(7) = $72,179.92 and MA(25) = $73,708.16. Short-term moving averages are plunging steeply, creating extreme downward pressure.
⢠MACD plunges: The DIF line (-1,073.54) and DEA (-781.41) have sunk deep below the zero line, with the red Histogram bar expanding to a record level (-292.13). Downward momentum is at an extreme oversold level, with no bottoming signal yet.
â ď¸ STRATEGIC PRICE ZONES & MARKET SENTIMENT:
⢠Market cost basis: Still anchored high at $78,600 (now more than $8,600 above the market price), leaving most short-term long positions deeply in the red.
⢠New support & resistance: The $69,900â$70,000 range is now the final psychological boundary. Above it, the $72,180 area (MA7) has turned into firm resistance.
$BTC