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This is a daily analysis of Coindeska analyst and authorized market technician Omkar Godbole.
Bitcoin He violated the level of key support in the signs of increasing bear movement, which indicates the risk of slip to $ 100,000.
The front cryptocurrency decreased by 6.5%in August, which ended the four -month winning lane as the American funds traded on the stock market (ETF) According to the data source, he bleed $ 751 million Socal.
A recent price drop has seen bitcoins disintegrated below several levels of key support, including ichimoku cloud, and a 50 -day and 100 -day simple moving diameters (SMA). According to the daily chart from TradingView, the key horizontal support zones created by the May maximum of $ 111,965 and December maximum of $ 109,364.
These disintegrates underline the growing weakness of the market, confirming the bearish shift in key movements such as Gupps more sliding diameter (GMMA) and histogram MACD.
Short -term exponential gliding average (EMA) Band of the gmma (green) exceeded under a longer -term belt (red)It signals a pure bear shift in momentum. Meanwhile, the weekly Histogram MacD dropped below zero, suggesting a transition from a bull to a bear trend.
Together these signals indicate the likelihood of permanent sale, which potentially converts the price to a 200 -day simple gliding average (SMA) for $ 101,366 and maybe per $ 100,000.
The negative technical outlook is in line with seasonal trends that show September historically as a bear month for bitcoins. Since 2013, BTC has provided an average yield of -3.49%, according to Coinglass data has been closed below in the last eight September.
As far as bulls are concerned, overcoming a lower maximum of 113 510 USD 28.
- Support: 105 240 $ (38.2% Fib Retrament Rally April in August)101 366 $ (200 -day SMA)$ 100,000.
- Resistance: 110 756 $ (the lower end of the ichimoku cloud)113 510 $ (lower high)115 938 $ (50 -day SMA).
