Today's Chart: Bitcoin Under Pressure as Losses Mount:

Bitcoin's price continues its correction to trade above the pivotal $70,000 level, confirming neutral to bearish expectations. The price has remained below key moving averages, including the 50-day exponential moving average, which provided brief support earlier in the week, the 100-day exponential moving average, and the 200-day exponential moving average. All three of these moving averages are trending downward, keeping the overall trend bearish.

Meanwhile, the (RSI) remained at 48 on the daily chart, near the midline, indicating a momentum shift following the recent pullback from above 60. The green bars on the (MACD) have contracted from high positive readings on the same chart, reinforcing the decline in bullish momentum, but not signaling a decisive bearish reversal. A longer-term downtrend resistance line sits well above the spot market price, confirming the overall bearish view.

Daily Chart for BTC/USDT Pair

The initial resistance level appears at $72,753, aligned with the 50-day exponential moving average. A break above this level would likely pave the way toward the weekly high of $76,000. In case of a decline, the immediate support level sits around $70,000, protecting against a larger pullback toward $68,400 and then $67,000, where previous swing lows clustered and recent dip-buying activity emerged.
$BTC