📉 $BTC /USDT Technical Update: Bearish Momentum or Buying Opportunity?
Bitcoin is currently going through a tough phase. If we look at the 3-Day (3D) chart, some important points emerge:
Key Highlights:
Price Action: BTC is currently trading at $67,750, which is significantly below its 24h high ($74,144).
EMA Breakdown: Price has fallen below all major Exponential Moving Averages (EMA 20, 50, and 200). This is a sign of a strong Bearish Trend.
Support Level: After breaking the previous major support, the market is now trying to find support around $66,720.
Volume Spike: The increase in volume with the downward movement (Red bars) indicates that sellers are currently controlling the market.
Analysis:
The market is currently moving towards the "Oversold" zone. A slight recovery (dead cat bounce) may be possible in the short term, but as long as the price does not sustain above the EMA lines, the trend will remain negative.
⚠️ Disclaimer: The crypto market is quite volatile. Always do your own research before making any trades. This is just a chart analysis, not financial advice.
What do you think? Is it time to buy this dip, or will it go further down? 👇
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