$BTC
🚨BTC/USD Technical Analysis🚨
The daily timeframe chart shows that the BTC/USD pair continued its strong downward trend, falling from a high of 126,300 in October to the current 67,665. It has continued falling even as whales continue buying.
Bitcoin remains below the 50-day and 100-day Exponential Moving Averages (EMA) and the Supertrend indicator. The MACD indicator has moved below the zero line, while the Relative Strength Index (RSI) is hovering at 30.
Therefore, the most likely scenario is where the BTC/USD pair will continue falling as sellers target the key support level at 60,000. On the other hand, a move above the key resistance level at 72,000 will invalidate the bearish outlook and point to more gains.
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