Tag: immediately

The post Bitcocom. The post Bitco Analysts are closely watching whether price can stabilize here or if weakness will continue. Sentiment remains bearish and technical signals show pressure even as small bounce attempts appear. At the time of writing, Bitcoin is trading slightly above the $95k mark and is down by more than 1% in the last 24 hours. SuperTrend Indicator Near Bearish Flip On the weekly chart, the SuperTrend indicator is close to flipping from bullish to bearish for the first time in years. One analyst said that the last time this happened was near the start of the 2022 bear market, so a confirmed weekly close below $96,000 could be seen as a negative signal for long-term momentum. Bearish Divergence Still Active A strong bearish divergence between price and RSI has been forming for almost a month. This usually means momentum is weakening and a breakout is less likely. Because of this, a fast recovery toward new highs is not expected immediately. Short-Term Bounce Possible but Not Confirmed Indicators show short-term oversold conditions, which can create brief relief rallies. However, the analyst made it clear that there is no confirmed bottom yet. If Bitcoin eventually breaks below the current support range, the next major downside zone is expected around $85,000 to $86,000.. Levels to Watch Moving Forward If Bitcoin bounces, the strongest resistance barrier is $99,000 to $100,000, which previously flipped from support to resistance. Until this level is reclaimed, analysts expect slow, weak, or sideways price action. Final Outlook Bitcoin may remain under pressure for several weeks or even months unless major resistance levels are recovered. The upcoming weekly close.