- Daily Chart: Bitcoin at Risk of Losing Gains


It appears that Bitcoin is on the verge of resuming its downward trend amid increasing headwinds and negative risk sentiment. The declining exponential moving averages, which are $84,699 for the 50-day, $90,363 for the 100-day, and $95,737 for the 200-day, are negatively impacting Bitcoin's price, with the potential for increased bearish momentum in the near term.

The MACD( indicator remains below the daily chart's signal line, reinforcing the overall bearish trend. Although the RSI) is above the oversold zone on the same chart, it shows weakness, which could accelerate the pace of decline toward $60,000.

A daily close above $70,000 is required to maintain short-term bullish outlooks, with near-term targets at the highest level on Sunday at $72,271 and the highest level on Thursday at $73,341.

Daily chart of the BTC/USDT pair
BTC0,05%
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