Daily Price Outlook

  • Bitcoin remains steady at $25,806, boasting a 24-hour trading volume of $11.46 billion and a robust market cap of around $500.6 billion.
  • Technically, Bitcoin grapples with a $26,180 resistance and relies on $25,400 support, while uncertain candlesticks and RSI and MACD fluctuations indicate market indecision.
  • Watch for a descending triangle pattern that hints at bearishness; if Bitcoin drops below $25,400, it might retreat towards $24,950, $24,700, or $24,400.

Alright, folks, let’s zoom in on Bitcoin, which is currently trading at $25,806, with a bustling 24-hour trading volume of $11.46 billion. Though it has taken a modest 1% dip, Bitcoin still reigns supreme, sitting on a throne with a market cap of roughly $500.6 billion.

As we dissect the technical charts, Bitcoin is facing a sturdy resistance at $26,180, and it’s leaning on support near $25,400. The latter is playing a significant role, acting like a cushion preventing Bitcoin from slipping further on the four-hour chart.

Now, let’s talk about what’s next. The market is somewhat in limbo, as the crypto-enthusiasts watch with bated breath for Bitcoin to make a decisive move. The candlestick patterns, along with indicators like RSI and MACD, are somewhat indecisive, akin to a chess player contemplating the next move.

What’s more, the 50-day EMA is not making it any easier, as it’s positioned at around $25,900, setting another resistance line. Bitcoin is navigating these waters cautiously.

However, we should keep an eye on the descending triangle pattern which hints at a possible bearish sentiment. If Bitcoin slips below $25,400, it might have to face a downhill slope with potential pit stops at $24,950, $24,700, or $24,400.

The crypto-landscape is ever-evolving, and Bitcoin is no stranger to twists and turns. Let’s keep a close eye on the charts as this intriguing story unfolds.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Idea

Entry Price – Sell Limit 26161

Stop Loss – 26478

Take Profit – 25426

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$735/ -$317

Profit & Loss Per Micro Lot = +$73/ -$31



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