FxNews—Bitcoin stays bearish, staying beneath the 100-period easy transferring common. The Superior Oscillator and Stochastic indicators counsel growing bearish momentum, with the latter getting into oversold territory at 17, hinting at a possible worth rebound. The Relative Power Index, at 46, confirms the bearish outlook because it falls beneath the median. Moreover, a drop beneath the Supertrend line encourages a promote technique.
General, indicators predict an additional downtrend, presumably descending to decrease assist ranges.
Bearish Situation
Bearish momentum may lengthen to $59,800 if Bitcoin stabilizes beneath the 61.8% Fibonacci retracement of the bullish AB wave. The first resistance is the 100-period SMA; breaching this might invalidate the bearish outlook.
Bullish Situation
A scarcity of market momentum is obvious, but a surge above the 100-SMA, close to the 50% Fibonacci retracement of the BC wave at about $63,200, may set off a bullish reversal. Falling beneath the $61,700 assist would nullify this situation.
> Assist: $61,700, $59,800, $57,765
> Resistance: $63,200, $64,280, $66,700
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