BTC
Warning Signs:
1. Bearish Momentum:
The price breaking below EMAs is often a sign of bearish continuation if confirmed by volume and other indicators.
2. Weak Support:
If the current level of $94,011 is breached, the next key support could be around $74,591.55, as seen on the chart.
3. Oversold Region Not Reversing:
While the Stochastic RSI indicates oversold conditions, it has not crossed upward, which could signal further downside before a potential rebound.
Conclusion:
Crash Probability: If the price breaks below $94,000 with strong selling volume, a sharper decline is likely. The next support could be around $74,000.
Rebound Potential: If the price sustains above $94,000 and Stochastic RSI crosses upward, a recovery may occur, targeting the EMAs near $97,000.
Recommendation:
If holding BTC: Set stop-losses below $94,000 to protect against further downside.
If planning to buy: Wait for confirmation of support or reversal (e.g., Stochastic RSI crossing upward and price moving above EMA(9)).
Keep monitoring volume as it will indicate the strength of the move.