BTC/USD outlook: Larger bears are taking a break, and the 200-day moving average is preventing further consolidation.

For the fourth day in a row, larger bears are taking a break for consolidation, and they are maintaining their position above the lowest levels seen since the end of February.

There is still a strong negative technical picture on the daily chart, with consolidation being restricted by the 200-day moving average (DMA), converging with the falling 10-day moving average (DMSA), and attempting to create a death cross and add to the bearish structure.

Long tails of recent daily candles, on the other hand, indicate that large bids are taking place, which partly counteracts the bearish pressure and maintains the price in an extended sideways direction.

Ideally, the near-term action should continue to be restricted by the 200-day moving average (58527), and protracted upticks should not reach the psychological barrier of 60 thousand. This will allow bears to continue to be active and provide better opportunities to re-enter the negative market.


A violation of recent spike lows has opened the door for an extension towards the next objectives, which are located at 52 thousand and fifty thousand respectively (Fibo 61.8% of 38501/73839 upleg / psychological).

58528, 59458, 60000, and 60340 are the residences.
56450, 56170, 54251, and 53142 are the supplementary numbers.

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