Bitcoin has struggled to hold gains above the $115,716 resistance level, with price action now trading beneath both the 7-period and 25-period moving averages. This technical deterioration signals emerging weakness on shorter timeframes, as bullish momentum shows signs of exhaustion and selling pressure intensifies notably.
Immediate Trading Landscape
The 15-minute chart presents a bearish setup for swing traders monitoring downside opportunities:
Entry Zone: $115,100 – $115,300
First Target: $114,400
Second Target: $113,900
Stop Loss Level: $115,750
Technical Support & Risk Assessment
The critical support level to monitor sits at the 99-period moving average, currently trading near $114,254. A breakdown below this dynamic support could unleash accelerated selling pressure toward the $113.9K zone. Momentum indicators are flashing caution signals, suggesting aggressive accumulation among bears.
For traders holding long positions, timing remains tricky — the risk-reward setup increasingly favors cautious positioning until clearer directional confirmation emerges on higher timeframes.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Bitcoin Slips Below Key Moving Averages – Short-Term Caution Warranted 📉
Bitcoin has struggled to hold gains above the $115,716 resistance level, with price action now trading beneath both the 7-period and 25-period moving averages. This technical deterioration signals emerging weakness on shorter timeframes, as bullish momentum shows signs of exhaustion and selling pressure intensifies notably.
Immediate Trading Landscape
The 15-minute chart presents a bearish setup for swing traders monitoring downside opportunities:
Technical Support & Risk Assessment
The critical support level to monitor sits at the 99-period moving average, currently trading near $114,254. A breakdown below this dynamic support could unleash accelerated selling pressure toward the $113.9K zone. Momentum indicators are flashing caution signals, suggesting aggressive accumulation among bears.
For traders holding long positions, timing remains tricky — the risk-reward setup increasingly favors cautious positioning until clearer directional confirmation emerges on higher timeframes.
#BTC #Bitcoin #CryptoTrading #TechnicalAnalysis