Make-or-Break Test for BTC: Support Floor vs Overhead Resistance
Bitcoin is under heavy distribution right now, sliding down to sixty-seven thousand five hundred after tagging a high near seventy thousand three hundred. Price is sitting below both the twenty and fifty-hour moving averages, keeping the short-term bias firmly bearish. With the fourteen-period RSI flashing twenty-five, the market is deeply oversold, which leaves room for a sharp relief bounce if buyers step in at the sixty-six thousand nine hundred low. However, until we reclaim the moving averages, any push upward faces thick overhead supply. Meanwhile, NEIRO is mirroring the weakness down at zero point zero zero zero zero five three with an RSI near twenty-eight.
Where is your target for this week: a relief bounce back toward resistance or lower lows?
$BTC $NEIRO #Bitcoin #CryptoMarket #TradingView
Bitcoin is under heavy distribution right now, sliding down to sixty-seven thousand five hundred after tagging a high near seventy thousand three hundred. Price is sitting below both the twenty and fifty-hour moving averages, keeping the short-term bias firmly bearish. With the fourteen-period RSI flashing twenty-five, the market is deeply oversold, which leaves room for a sharp relief bounce if buyers step in at the sixty-six thousand nine hundred low. However, until we reclaim the moving averages, any push upward faces thick overhead supply. Meanwhile, NEIRO is mirroring the weakness down at zero point zero zero zero zero five three with an RSI near twenty-eight.
Where is your target for this week: a relief bounce back toward resistance or lower lows?
$BTC $NEIRO #Bitcoin #CryptoMarket #TradingView
