CandleFocus Weak Momentum Pressures Bitcoin, $94,500 Last Defense Before Deeper Drop
2025-02-15
Author: Content Editor
The recent price movement of Bitcoin suggests a possible drop, with the cryptocurrency falling 2.33% to $95,162.75. Analysis indicates that Bitcoin may be forming a rounded top pattern, which could lead to further declines unless buyers step in. The key support levels to watch are $95,500 and $94,500. The bullish momentum appears to be waning, as Bitcoin has dropped below a short-term trendline and has been forming lower highs and lows. The 200-day moving average still supports long-term bullishness. Resistance near $98,000 is capping upward movements, and increased selling volume suggests bears are gaining control. If support at $94,500 fails to hold, Bitcoin may slide towards the $88,000 zone. A relief bounce could occur if support holds, but breaking above $98,000 would invalidate the bearish outlook.
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