Bitcoin (BTC) has been struggling to break above $100,000 and sellers appear to have gained control. The Directional Movement Index (DMI) shows increased bearish pressure, while the Ichimoku Cloud suggests a potential reversal if BTC can break key resistance levels. However, the DMI and Ichimoku Cloud also indicate weakening bearish momentum, hinting at a possible reversal. If bullish momentum returns, BTC could test resistance at $97,756 and aim for the $100,000 level and $102,668 as the next target. Nonetheless, the bearish setup, with short-term Exponential Moving Averages (EMA) below long-term EMAs, indicates ongoing downward momentum. If sellers continue to dominate, BTC could retest support at $94,818 and potentially drop further to $93,415 and $91,300. The next move for Bitcoin depends on whether it can clear resistance or face further downward pressure.
Content Editor ( beincrypto.com )
- 2025-02-22
Bitcoin (BTC) Suffers After Bybit Hack, But Indicators Suggest a Rebound
