Bitcoin continues to trade with a weak technical structure, and there is not much improvement to report in the crypto space this week.
The trend remains clearly bearish as BTC continues to print lower highs and lower lows. More importantly, Bitcoin has now taken out the March low, which adds further pressure to the current setup.
The recent breakdown from the ascending price channel is also a major warning sign. This type of breakdown often acts as a continuation pattern, and in this case, the continuation still points lower.
Another concern is that Bitcoin has mostly been consolidating its recent losses instead of showing a strong recovery. That keeps the risk of further downside open.
For the bearish setup to weaken, BTC would need to reclaim the $74,000–$76,000 zone. Until that happens, the broader structure remains vulnerable.
Trading Levels:
• Bearish below: $74,000–$76,000
• Key resistance: $74,000–$76,000
• First support zone: $53,000–$56,000
• Downside target: $40,000–$45,000
• Trend structure: Bearish while lower highs and lower lows continue
Overall, Bitcoin remains under pressure, and unless buyers can reclaim the $74,000–$76,000 area, the path of least resistance still appears to be lower.
The trend remains clearly bearish as BTC continues to print lower highs and lower lows. More importantly, Bitcoin has now taken out the March low, which adds further pressure to the current setup.
The recent breakdown from the ascending price channel is also a major warning sign. This type of breakdown often acts as a continuation pattern, and in this case, the continuation still points lower.
Another concern is that Bitcoin has mostly been consolidating its recent losses instead of showing a strong recovery. That keeps the risk of further downside open.
For the bearish setup to weaken, BTC would need to reclaim the $74,000–$76,000 zone. Until that happens, the broader structure remains vulnerable.
Trading Levels:
• Bearish below: $74,000–$76,000
• Key resistance: $74,000–$76,000
• First support zone: $53,000–$56,000
• Downside target: $40,000–$45,000
• Trend structure: Bearish while lower highs and lower lows continue
Overall, Bitcoin remains under pressure, and unless buyers can reclaim the $74,000–$76,000 area, the path of least resistance still appears to be lower.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.