sábado, fevereiro 22, 2025
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Is This the Start of a Bigger Drop?



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Bitcoin worth began one other decline beneath the $57,200 zone. BTC is exhibiting bearish indicators and would possibly quickly check the $55,000 assist zone.

  • Bitcoin is gaining tempo beneath the $58,000 assist zone.
  • The worth is buying and selling beneath $57,500 and the 100 hourly Simple shifting common.
  • There was a break beneath a connecting bullish development line with assist at $58,900 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
  • The pair might wrestle to recuperate above the $57,650 or $58,000 resistance ranges in the close to time period.

Bitcoin Price Takes Hit

Bitcoin worth extended losses beneath the $57,500 assist ranges. BTC even traded beneath the $57,200 assist. There was a break beneath a connecting bullish development line with assist at $58,900 on the hourly chart of the BTC/USD pair.

A low was shaped at $55,591 and the worth not too long ago began a restoration wave. There was a transfer above the $56,000 and $56,200 resistance ranges. It cleared the 23.6% Fib retracement stage of the downward transfer from the $59,773 swing excessive to the $55,591 low.

Bitcoin is now buying and selling beneath $58,000 and the 100 hourly Simple moving average. On the upside, the worth might face resistance close to the $57,650 stage or the 50% Fib retracement stage of the downward transfer from the $59,773 swing excessive to the $55,591 low.

Bitcoin Price
Source: BTCUSD on TradingView.com

The first key resistance is close to the $58,000 stage. A transparent transfer above the $58,000 resistance would possibly ship the worth additional larger in the coming periods. The subsequent key resistance may very well be $58,800. A detailed above the $58,800 resistance would possibly spark extra upsides. In the acknowledged case, the worth might rise and check the $60,000 resistance.

More Downsides In BTC?

If Bitcoin fails to rise above the $58,000 resistance zone, it might begin one other decline. Immediate assist on the draw back is close to the $56,350 stage.

The first main assist is $55,500. The subsequent assist is now close to the $55,200 zone. Any extra losses would possibly ship the worth towards the $53,500 assist in the close to time period.

Technical indicators:

Hourly MACD – The MACD is now gaining tempo in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now beneath the 50 stage.

Major Support Levels – $56,350, adopted by $55,500.

Major Resistance Levels – $57,650, and $58,000.



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