BTC Breaks Key Support – Bearish SignalBitcoin has lost the critical 50 EMA on the daily chart, which has historically acted as a strong support level. This breakdown mirrors the 2021 double top structure and is now hinting at a deeper correction.
🔸 Key Support Zone at $100,000:
Losing this zone increases downside risk. If $100K fails to hold, next visible supports are at $96K and $91K, aligning with past consolidation zones.
🔸 Risk Level at $104,500:
A daily close back above $104.5K would invalidate this bearish view and indicate strength recovery.
🔸 Outlook:
Wait for further confirmation below $100K for potential short setups. Avoid long entries until clear reversal signs appear.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.