BTC/USD Technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
BTC/USD shows a strongly bearish overall trend. This is evident from the clear pattern of lower highs and lower lows, with the price trading significantly below the downward-sloping 60-period Simple Moving Average (SMA), which currently sits around 111565.4. This SMA will likely act as dynamic resistance. The price has recently experienced a sharp decline, decisively breaking below the former support level of 106100.0, which now becomes the first major resistance.



The Relative Strength Index (RSI) is at 36.3, approaching the oversold threshold of 30. While this suggests the recent selling momentum is strong and may be overextended, it is not a buy signal, as assets can remain oversold in strong downtrends. Given the break of support, the outlook remains bearish, with the next significant support level visible on the chart at 80000.0

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