🚨BTC Bear Market & EMA21: The Crucial Resistance Zone 📉
The 21-week EMA continues to act as the ultimate line in the sand throughout this ongoing market cycle.
Every recovery attempt by $BTC struggles to sustain momentum above this critical moving average.
To date, the market has failed to record three consecutive weekly closes above the EMA21 level.
Even during minor bullish relief rallies, the 21-week EMA—currently hovering around $69.3K—stands firm as a massive resistance barrier. 🔨
From a structural standpoint, the macro trend remains unchanged. We are still navigating a bearish phase, and caution is warranted as the possibility of a final capitulation event remains on the horizon.
What are your thoughts? Are you positioning for lower lows, or waiting for a confirmed weekly breakout? Let’s discuss below! 👇
#Bitcoin #BTC #CryptoAnalysis #BearMarket #BinanceSquare$ETH $BTC
The 21-week EMA continues to act as the ultimate line in the sand throughout this ongoing market cycle.
Every recovery attempt by $BTC struggles to sustain momentum above this critical moving average.
To date, the market has failed to record three consecutive weekly closes above the EMA21 level.
Even during minor bullish relief rallies, the 21-week EMA—currently hovering around $69.3K—stands firm as a massive resistance barrier. 🔨
From a structural standpoint, the macro trend remains unchanged. We are still navigating a bearish phase, and caution is warranted as the possibility of a final capitulation event remains on the horizon.
What are your thoughts? Are you positioning for lower lows, or waiting for a confirmed weekly breakout? Let’s discuss below! 👇
#Bitcoin #BTC #CryptoAnalysis #BearMarket #BinanceSquare$ETH $BTC