Bitcoin News
By Evie Vavasseur
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BTC Faces Third Failure at Historic Trendline. Bitcoin’s inability to maintain gains above a critical trendline drawn from the 2017 and 2021…
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MACD Signals Weakening Momentum. Technical indicators reinforce the bearish outlook. On the monthly chart, the MACD histogram,…
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Expanding Channel Resistance Highlights Downside Risk. BTC’s daily chart also shows a sharp reversal from the upper boundary of the expanding channel.
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Support and Resistance Levels to Watch. Immediate resistance for BTC is around $116,000, with the next barrier near $121,800.
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Implications for Traders and Investors. The repeated failure to break above the historic trendline carries several implications for market…
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Long-Term Outlook Remains Uncertain. While technical indicators point to a possible decline toward $100,000, it is important to…
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Conclusion. Bitcoin’s third failed attempt to hold gains above the 2017–21 trendline emphasizes the challenges…
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Bitcoin’s recent crash has highlighted persistent resistance levels that could push the leading cryptocurrency toward $100,000 if bulls fail to regain control.
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Bitcoin’s inability to maintain gains above a critical trendline drawn from the 2017 and 2021 highs marks the third major failure at this resistance level.
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Long wicks on the monthly candlestick charts for July, August, and October indicate repeated attempts by bulls to hold higher levels, only to face rejection.
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Technical indicators reinforce the bearish outlook. On the monthly chart, the MACD histogram, while still positive, is notably lower than during the December-January rally when…
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Daily chart readings echo the monthly sentiment. Both the standard MACD (12, 26, 9) and longer-term MACD (50, 100, 9) histograms show negative readings, pointing to potential…
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The 200-day simple moving average, currently near $107,000, may offer intermediate support. However, a sustained inability to reclaim the trendline could result in further…
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Immediate resistance for BTC is around $116,000, with the next barrier near $121,800. A decisive close above $121,800 is crucial to invalidate the series of lower highs and…
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On the downside, support levels are clear. The first major support sits at $107,000, coinciding with the 200-day moving average.
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