Bitcoin has been experiencing a bearish trend recently after being rejected at the $30K resistance level. However, there are still signs of hope for a potential recovery.
On the daily chart, the price has dropped significantly below both the 50-day and 200-day moving averages after being rejected from the $30K resistance zone. The $25K support level is currently holding the price, but the 200-day moving average has rejected it and pushed it towards $25K again. Additionally, the 50-day moving average is trending towards the 200-day moving average, indicating a possible bearish crossover. If the $25K level fails to hold, it is likely that the price will drop even further.
Looking at the 4-hour chart, the recent price action becomes clearer. The Market has recently been rejected from the $27,500 short-term resistance level and is declining towards the $25K support area. The RSI indicator is showing values below 50%, emphasizing the current bearish momentum. If the $25K level breaks down, the situation could worsen quickly.
In terms of on-chain Analysis, the recent drop in Bitcoin’s price has raised concerns among investors regarding possible further crashes. By analyzing the futures market sentiment, it is possible to determine whether this is likely to occur. The open interest metric, which measures the number of open perpetual futures contracts on centralized exchanges, has decreased significantly following the price decline. This suggests that while there is still potential for more bearish price action, the volatility should be lower, and a more gradual uptrend or downtrend is probable.
Overall, Bitcoin’s recent price action indicates a bearish trend, with the potential for further drops if the $25K support level fails. However, the on-chain analysis suggests that the volatility may decrease, leading to a more stable price movement in the short term. It is advised to conduct personal research before making any Investment decisions..
#Heres #Level #Support #25K #Fails #Hold #BTC #Bitcoin #Price #Analysis
On the daily chart, the price has dropped significantly below both the 50-day and 200-day moving averages after being rejected from the $30K resistance zone. The $25K support level is currently holding the price, but the 200-day moving average has rejected it and pushed it towards $25K again. Additionally, the 50-day moving average is trending towards the 200-day moving average, indicating a possible bearish crossover. If the $25K level fails to hold, it is likely that the price will drop even further.
Looking at the 4-hour chart, the recent price action becomes clearer. The Market has recently been rejected from the $27,500 short-term resistance level and is declining towards the $25K support area. The RSI indicator is showing values below 50%, emphasizing the current bearish momentum. If the $25K level breaks down, the situation could worsen quickly.
In terms of on-chain Analysis, the recent drop in Bitcoin’s price has raised concerns among investors regarding possible further crashes. By analyzing the futures market sentiment, it is possible to determine whether this is likely to occur. The open interest metric, which measures the number of open perpetual futures contracts on centralized exchanges, has decreased significantly following the price decline. This suggests that while there is still potential for more bearish price action, the volatility should be lower, and a more gradual uptrend or downtrend is probable.
Overall, Bitcoin’s recent price action indicates a bearish trend, with the potential for further drops if the $25K support level fails. However, the on-chain analysis suggests that the volatility may decrease, leading to a more stable price movement in the short term. It is advised to conduct personal research before making any Investment decisions..
#Heres #Level #Support #25K #Fails #Hold #BTC #Bitcoin #Price #Analysis
