sell
Bitcoin’s Imminent Decline to $93K: Technical Signals Point to Bearish Trend
The current analysis indicates that Bitcoin has lost its recent bullish momentum after reaching a new all-time high last week, now experiencing a notable decline of approximately 7%. Several technical indicators signal a potential bearish reversal, suggesting that Bitcoin might drop further to the $93,000 level in the near term. Indicators such as the RSI pointing below 51, a volume profile with strong trading activity around $103,500, and the ADX showing increasing bearish strength reinforce this outlook. Key support levels are identified near $93,000 and $91,800, where a reversal could occur, but if these are broken, further declines are possible. The market's technical setup implies a cautionary approach, as the trend appears to be shifting from bullish to bearish.
Source available for registered users Sign Up Free
AI Analysis
Bitcoin’s recent price correction after reaching a new all-time high signals a shift in market sentiment. The technical indicators presented by analyst Burak Kesmeci highlight a weakening bullish mome...
AI Recommendation
Given the technical signals pointing toward a potential correction, it would be prudent for traders and investors to adopt a cautious stance. Short-term traders might consider reducing exposure or tig...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
You might also be interested in:
partial sell