Bitcoin's Bearish Pressure Builds: Key Levels to Watch
teammalaysia·@hooiyewlim·
0.000 HBDBitcoin's Bearish Pressure Builds: Key Levels to Watch
 ### Technical Analysis: 1. **Price Movement**: Bitcoin (BTC) is trading at $98,312, showing a 2.70% drop over the last 4 hours. 2. **Moving Averages**: - EMA(7) at $98,668.06 (short-term resistance). - EMA(25) at $99,574.30 and EMA(99) at $101,225.37, indicating a bearish crossover with prices trading below key EMAs. 3. **Support and Resistance**: - Immediate support at $96,150 (24-hour low). - Resistance at $101,732 (24-hour high). 4. **Volume**: Declining 24-hour trading volume (40,147 BTC), reflecting weakening market momentum. 5. **RSI(6)**: At 45.07, signaling neutral to slightly bearish momentum, with room for potential downside. 6. **Candlestick Pattern**: Recent red candles with long wicks suggest rejection of higher prices and seller dominance. ### Conclusion: Bitcoin faces bearish pressure as it struggles to reclaim EMA levels. Traders should monitor $96,150 for a potential breakdown or $101,732 for signs of recovery. Caution is advised until a clear trend emerges.