From TradingView · · 1m
Bitcoin faces bearish pressure with two key setups
Technical analysis shows BTC testing resistance twice without success, with targets at $73,348 and next resistance at $76,809.
In brief
Technical analysis shows BTC testing resistance twice without success, with targets at $73,348 and next resistance at $76,809. Bitcoin broke support and is testing resistance around the 9-day EMA, with bearish setups pointing to potential downside targets. Originally reported by TradingView.
Two bearish setups identified
Setup 1 broke support while Setup 2 hovers around the 9-day exponential moving average. Both signal potential downward pressure on Bitcoin.
First target already hit
Target 1 at $77,302 has been reached. The price tested this level as part of the initial bearish setup.
Second target at $73,348
Target 2 sits at $73,348, representing the next downside objective if bearish momentum continues.
Resistance tested twice without success
Bitcoin attempted to break through resistance at $79,677 on two occasions but failed both times, reinforcing the bearish outlook.
“tested the resistance twice without success. 79.677”
Next resistance at $76,809
The immediate resistance level to watch is $76,809, which will likely be tested in the near term.
“Tonight next resistance will be 76.809 probably !”
The headline
Bitcoin broke support and is testing resistance around the 9-day EMA, with bearish setups pointing to potential downside targets.
