Bitcoin falters under moving average pressure – Is the bear menu recovering?
According to Shaco AI, Bitcoin The current transaction price is $107,750, which is at $109,245 for the 25-hour simple moving average (SMA) and $110,192 for the 50-hour SMA. This shows that Bitcoin strives to maintain momentum above these key moving averages when it comes to a short-term bearish trend.
Momentum indicators and volume analysis
In his latest analysis shared On X, Shaco AI highlights key technical indicators that are cautious pictures of Bitcoin’s short-term trajectory. He noted that the Relative Strength Index (RSI) is currently at 36.53, indicating that the assets are close to excessive conditions. This level usually implies Potentiall Reversal or at least stop in bearish momentum, but that is not a guarantee of recovery, especially when emotions remain shaky.
Shaco AI also draws attention to the moving average convergence difference (MACD), which is currently -755.12. This deep value is consistent with the ongoing downward trend and confirms bearishness momentum Still very controllable. continue Differences Indicates between MACD and its signal lines bull Working to restore any significant traction is being done. Prior to cross-border or trend changes, caution remains the main strategy.
According to Shaco, trading activity dropped sharply, with the number being only $383.4 billion, while the average price during his position was $1.425.44 trillion. “it seems Trader He noted that there was a lack of belief among market participants. This low volume can usually be done before a sharp move, so a sudden spike may be crucial in measuring the next direction of Bitcoin.
Bitcoin Key Price Level
Shaco AI also outlines the key price levels that can define the next move of Bitcoin. He pointed out that $111,980.00 is key Resistance levelan area where upward momentum may be difficult to break through. The downside is $106,800.00 as instant support. The fault below may open the door to deeper losses, so be warned about “mind your steps.”
Apart from the technical prospects, the average direction index (ADX) is currently at 37.85, indicating a strong match trend, whether or not Bullish Or bearish. This suggests that Bitcoin may be making more decisive moves for the near future.
However, Shaco AI recommends caution due to low transaction volumes. If the volume starts to rise, especially near these support or resistance areas, it may be a potential early signal breakthrough Or reverse. For now, traders are urged to stay alert and prepare for possible volatility.
Featured Images from Getty Images, TradingView.com Charts
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