Bitcoin Lost And Retested The 200-Day MA As Resistance – Here’s What Happened Last Time
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Bitcoin’s trading levels are below key support levels after mass sales pressures swept the market. BTC has lost more than 29% of its value since late January, adding to investor fear and uncertainty. Traders are preparing for further downside risks as fears of global trade wars intensify and shaking macroeconomic conditions shake cryptocurrencies and U.S. stocks.
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Since Bitcoin cannot maintain key technology levels, market sentiment is still overwhelmingly bearish. Crypto analyst Daan shared a technical analysis on X that shows that BTC has damaged the average level of 200 flows per day (MA) and has now retested it as a resistor. Historically, this pattern marks a continuation of bearish price action, suggesting that BTC may see more shortcomings in the coming weeks.
and Bitcoin strives to restore momentumthe next big move in the market will depend on whether the Bulls can regain lost ground, or whether further sales pressure will drive BTC to lower support levels. As uncertainty grows, investors remain cautious, waiting for clear signals before taking major steps. The days that follow are crucial to determine whether Bitcoin can be stable or the current downward trend will continue.
Bitcoin decline deepens as bears remain in control
Bitcoin has been on a sustained downward trend since late January, and is concerned about continuing to set lower price targets among investors. Now, many people question whether the BTC bull cycle is over, as sales pressures intensify and market sentiment continues.
The decline has been exacerbated by uncertainty surrounding macroeconomic conditions since the November 2024 U.S. election. Given the ongoing fear of trade wars and the unstable global markets, it seems that this period of uncertainty will continue to weigh Bitcoin’s price action.
Crypto Analyst Daan Share technical insights on Xhighlighting that BTC lost its 200-day moving average (MA), has now been retested as a resistor. This signal is still in control and the Bulls have a lot of work to do to recoup this level.
According to Daan, Bitcoin experienced a similar situation last year, with price action splitting at these levels for three months before the outbreak. If history repeats itself, BTC could enter another extended merge phase, leaving the price limited for several months.
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However, if the Bulls are unable to recover 200-day MA/EMA, there may be further disadvantages, which will allow Bitcoin to reach a lower price level. With bears still in control and the market remains vulnerable, investors are watching closely to see if BTC can stabilize or another major decline is coming. The next few weeks will be crucial as Bitcoin either finds a foothold or continues to enter bearish territory.
As fear continues
Bitcoin (BTC) is currently trading between $80,000 and $85,000, and is working hard to redefine key price levels due to increasing panic sales and fears. With sales pressure dominant, investors are still uncertain about Bitcoin’s next move as the Bulls fail to push BTC to the recovery phase.
For bullish reversals, BTC must hold more than $80,000 in stake and regain the $86,000 level, which will indicate new purchase interest and may lay the foundation for a stronger uptrend. However, Bitcoin may enter a lateral merger phase below $90,000-$88,000, extending uncertainty and keeping the price action going for weeks.
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If BTC fails to defend the $80,000 level, the risk of deeper corrections will increase, potentially pushing prices below the critical support zone. A segment below $80K could trigger another wave of sales, bringing BTC to a lower demand level and extending the current bearish market structure. Traders are cautious and keep an eye on whether Bitcoin can stabilize or whether other significant declines are moving forward.
Featured images from DALL-E, charts from TradingView
