Bitcoin’s Bearish Turn: Has the Crypto Winter Arrived Early?
Bitcoin has taken a decisive turn downwards, breaking through key support levels and painting a bleak picture across multiple timeframes. Yesterday, we observed initial signs of weakness, but today’s price action has confirmed a powerful bearish trend that has left investors questioning whether a prolonged crypto winter is on the horizon. The technical indicators, once a source of bullish optimism, are now flashing red alerts, signaling that the path of least resistance is, for now, decidedly lower.
Just a day ago, the market was holding its breath, with some indicators suggesting a potential for a minor bounce. However, the follow-through has been aggressively bearish. The price has sliced through critical moving averages, and on the daily and 12-hour charts, the MACD indicator has registered deeply negative readings, a classic sign of sustained downward momentum. The Relative Strength Index (RSI) is languishing in oversold territory, reflecting intense selling pressure, while the Chaikin Money Flow (CMF) shows that capital is fleeing the market. Our initial cautious stance has proven prudent, as the market failed to find any meaningful support. Today’s drop has validated our prediction of a continued downtrend, and the price is now approaching psychological support levels that will be crucial in the days ahead.
Looking forward, the forecast remains overwhelmingly bearish. The weekly chart, a bellwether for long-term trends, is showing a significant bearish MACD crossover for the first time in months, suggesting this is not a minor dip but a potential major trend reversal. Our analysis indicates that the price is likely to test the $105,000 support zone within the next 24 to 48 hours. Should this level fail to hold, a steeper decline toward the $100,000 mark is highly probable.
For now, the strategy remains clear: caution is paramount, and any rallies should be viewed as selling opportunities rather than the start of a new uptrend.
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BTC/USDT Perpetual (Bybit)
Technical Analysis for BTC/USDT.P
Advanced Chart for BTC/USDT.P
This chart visually represents the consensus indicator scores across all analyzed timeframes, providing a clear, at-a-glance view of the prevailing market sentiment.
-1 = Bearish 🧸 ,+1=Bullish 🐂 ,+-0.5 weak Bullish/Bearish , 0(0.5-0.5) = Neutral
This chart plots the key price levels—floor, resistance, and ceiling—that we identified for each timeframe. It helps in visualizing the critical support and resistance zones.
Disclaimer
The content in this publication is for informational and educational purposes only and does not constitute financial, investment, or trading advice. I am not a licensed financial advisor.
Any opinions, strategies, or analyses shared reflect my personal views and experiences. I may hold positions in the cryptocurrencies mentioned (e.g., BTC, ETH, SOL), which could influence my perspective.
Cryptocurrency markets are highly volatile and involve significant risk. Always do your own research and consult a licensed financial advisor before making any investment decisions.
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