$BTC if lost support zone 74000 next 58000 wait an watch
· Price: $74,899 (lowest since 2024)
· RSI(14): 21.24 → Severely oversold (below 30)
· MACD: Negative, DIF below DEA → Bearish momentum
· Price below all key MAs: MA(7), MA(30), MA(200) → Strong downtrend
· Immediate support: ~$74,000 (testing now)
· Next major support: ~$58,000 (if $74,000 breaks)
Strategy for "Moonshine" (Potential Reversal Setup):
1. Wait for confirmation: Don’t buy yet. Watch if $74,000 holds as support.
2. Look for reversal signals:
· RSI divergence (price makes lower low, RSI makes higher low)
· Bullish engulfing candle on daily chart
· MACD crossover to positive
3. If $74,000 breaks: Next target is $58,000. Wait for stabilization there.
4. Entry zones for "Moonshine" (long-term bullish reversal):
· Aggressive: Near $74,000 if reversal signals appear + RSI > 30
· Conservative: Near $58,000 (strong historical support zone)
5. Risk management: Use stop-loss below support levels. Position size small in bear market.
Summary:
Market is oversold but still in downtrend. Best bear market strategy: Wait for support confirmation, accumulate only on strong reversal signals or at deeper support ($58,000). Avoid catching falling knives.
