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- Today’s Chart: Bitcoin Trading Under Pressure:
Bitcoin’s price continues to decline toward the $89,000 level, with indicators still showing bearish signals. The Relative Strength Index (RSI) at 42 on the daily chart indicates a downward trend, suggesting that Bitcoin’s technical structure may continue to weaken.
The Moving Average Convergence Divergence (MACD) remains below the signal line on the same chart, prompting investors to reduce their market exposure. The bearish momentum may intensify, with the MACD histogram expanding below the zero line.
However, the support level at $89,000 remains stable, which could indicate market stability and encourage risk-taking. A move above $90,000 is needed to curb the bears’ momentum.
Daily chart of the BTC/USDT pair