Bitcoin's recent performance has been quite grim. The current price is swaying around 90k to 93k USD, marking a six-month low, wiping out all gains for this year. From a technical perspective, it has broken below the 93k support level and entered a clear downward channel. Short-term bearish signals are abundant—such as the death cross just triggered, the 50-day moving average crossing below the 200-day moving average, and the RSI indicator showing it's a bit Oversold, suggesting a possible Rebound. However, if it really breaks the 89k support, the next target will head straight for 74k. If it can hold the 90k level, there might be a local bottom. The MACD also shows some signs of divergence. Overall, market sentiment is low, and Trading Volume is not large. It is advisable to observe and not rush to buy the dip.

BTC-0.47%
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