BTCUSD has been constantly gaining ground after its prolonged downtrend bottomed at the 2022 low of 17,588. However, in the last few daily sessions, the cryptocurrency has been experiencing a downside correction since its recent rebound failed to cross above the 25,200 region.
This loss of positive momentum is also reflected by the short-term indicators. Specifically, the MACD histogram has dived beneath both zero and its red signal line, while the stochastic oscillator is sloping downwards after posting a bearish cross.
Should the negative bias strengthen, initial support could be found at the 50-day simple moving average (SMA), currently at 22,220. Dropping beneath that zone, the bears could aim for the 20,670 barrier. A violation of the latter may pave the way for the 19-month low of 17,588.
On the flipside, bullish actions could propel the price higher to challenge the recent rejection point of 25,200. Conquering this barricade, further upside moves might stall at 27,950 before the May peak of 32,375 comes under examination. Even higher, the 40,000 psychological mark could prove to be a tough obstacle for the price to overcome.
In brief, Bitcoin’s latest recovery appears to be running out of steam, although it is still too early to call for a resumption of the broader downtrend. Therefore, a drop below the 50-day SMA could attract further selling interest, sending the price towards its recent lows.
免責事項：本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。
