Bitcoin fell to 112,000 USD, and the technical indicators suggest that the bearish trend may continue.

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[Bit推] CoinDesk analyst and chartered market technician stated that the price of Bitcoin (BTC) has fallen to about $112,000, close to the level before Fed Chairman Powell's dovish remarks last Friday, which reached a high of $117,440 last week.

The daily chart shows that Bitcoin is forming lower highs near the previous bull market trend line extended from the April lows, confirming the previous trend line breakdown and suggesting that a bearish trend may continue. The Guppy Multiple Moving Average's short-term moving averages are about to cross below the long-term moving averages, indicating an increase in bearish momentum.

The key support level for Bitcoin is at $110,756, with further support around the 200-day moving average near $100,000. To restore a bullish outlook, the price needs to return above last Friday's high of $117,440.

BTC-2.39%
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SchroedingerMinervip
· 18h ago
Continue to fall, I continue to buy.
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LiquidityOraclevip
· 18h ago
Support is useless, it is going to fall.
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ruggedNotShruggedvip
· 18h ago
Stay calm and relaxed during the Bear Market.
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GasWastingMaximalistvip
· 18h ago
Kairun has Cut Loss and is rolling.
View OriginalReply0
OnchainSnipervip
· 18h ago
I have long known about the short positions trap.
View OriginalReply0
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