Crash

bullish

Bitcoin

when

Daily

<p>Bitcoin has been experiencing a bearish retracement following a significant rejection from the 100-day and 200-day moving averages. This highlights the prevailing dominance of sellers, who seem to be intending to drive the price lower.</p> 
<h2 id="technical-analysis">Technical Analysis</h2> 
<p>By <a href="https://www.linkedin.com/in/shayan-navabi-522107248/" data-wpel-link="external" target="_blank">Shayan</a></p> 
<h3 id="the-daily-chart">The Daily Chart</h3> 
<p>A closer look at Bitcoin’s daily chart shows that after a surge toward the 100-day and 200-day moving averages around the $64K mark, the price faced intensified selling pressure and was notably rejected.</p> 
<p>This resulted in a pullback to these broken moving averages, signaling the beginning of a bearish decline. The price action indicates that sellers are firmly in control, with the 100-day MA crossing below the 200-day MA to form a “death cross,” further reinforcing the bearish outlook.</p> 
<p>Currently, Bitcoin has entered a key support zone defined by the 0.5 to 0.618 Fibonacci retracement levels. This zone could provide temporary relief from the downtrend, potentially leading to a period of sideways consolidation.</p> 
<figure id="attachment_358541" aria-describedby="caption-attachment-358541" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/09/BTC-D-scaled.jpg" data-wpel-link="internal"></a>
 <figcaption id="caption-attachment-358541" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure> 
<h3 id="the-4-hour-chart">The 4-Hour Chart</h3> 
<p>On the 4-hour chart, Bitcoin’s price has seen a clear bearish rejection at the $64K resistance level, leading to a steady decline.</p> 
<p>The failure to establish new higher highs has turned the market trend decisively bearish, with lower highs and lower lows signaling intense selling activity. Bitcoin now sits at a critical support zone defined by the 0.5 and 0.618 Fibonacci retracement levels.</p> 
<p>If sellers push the price below this range, the next target is the key $50K support level, where significant buying pressure may reemerge. Conversely, if Bitcoin finds support at this level, a bullish rebound toward the psychological $60K resistance could materialize.</p> 
<figure id="attachment_358542" aria-describedby="caption-attachment-358542" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/09/BTC-4H-scaled.jpg" data-wpel-link="internal"><img class="wp-image-358542 size-full" src="https://cryptopotato.com/wp-content/uploads/2024/09/BTC-4H-scaled.jpg" alt="btc_price_chart_0609242" width="2560" height="1372" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/BTC-4H-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/09/BTC-4H-300x161.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/09/BTC-4H-1024x549.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/BTC-4H-768x411.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/09/BTC-4H-1536x823.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/BTC-4H-2048x1097.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/09/BTC-4H-50x27.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-358542" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure> 
<h2 id="on-chain-analysis">On-chain Analysis</h2> 
<p>By <a href="https://www.linkedin.com/in/shayan-navabi-522107248/" data-wpel-link="external" target="_blank">Shayan</a></p> 
<p>Examining futures market metrics can provide valuable insight into sentiment when assessing Bitcoin’s price movements. One key indicator is the Taker Buy/Sell Ratio, which measures whether buyers or sellers are more aggressive in executing their orders.</p> 
<p>The chart shows a significant decline in the ratio after Bitcoin’s rejection from the $64K level. This drop indicates a surge in market sell orders, reflecting a broader sentiment of distribution among traders.</p> 
<p>This behavior underscores growing bearish expectations as traders are positioning for a possible breakdown and further price declines, potentially toward the $50K support level. The increase in sell-side aggression indicates a short-term continuation of the bearish trend.</p> 
<figure id="attachment_358543" aria-describedby="caption-attachment-358543" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/09/Bitcoin-Taker-Buy-Sell-Ratio-All-Exchanges-scaled.jpg" data-wpel-link="internal"><img class="wp-image-358543 size-full" src="https://cryptopotato.com/wp-content/uploads/2024/09/Bitcoin-Taker-Buy-Sell-Ratio-All-Exchanges-scaled.jpg" alt="btc_taker_buy_sell_ratio_chart_0609241" width="2560" height="1440" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/Bitcoin-Taker-Buy-Sell-Ratio-All-Exchanges-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/09/Bitcoin-Taker-Buy-Sell-Ratio-All-Exchanges-300x169.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/09/Bitcoin-Taker-Buy-Sell-Ratio-All-Exchanges-1024x576.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/Bitcoin-Taker-Buy-Sell-Ratio-All-Exchanges-768x432.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/09/Bitcoin-Taker-Buy-Sell-Ratio-All-Exchanges-1536x864.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/Bitcoin-Taker-Buy-Sell-Ratio-All-Exchanges-2048x1152.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/09/Bitcoin-Taker-Buy-Sell-Ratio-All-Exchanges-50x28.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-358543" class="wp-caption-text">
  Source: CryptoQuant
 </figcaption>
</figure> 
<p>The post <a href="https://cryptopotato.com/bitcoin-price-analysis-is-50k-imminent-after-another-3-daily-crash-for-btc/" rel="nofollow">Bitcoin Price Analysis: Is $50K Imminent After Another 3% Daily Crash for BTC?</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.</p>

Bitcoin Price Analysis: Is $50K Imminent After Another 3% Daily Crash for BTC?

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