Technical Analysis – BTC remains under pressure near key support
- BTCUSD consolidates losses near 111,000
- Momentum indicators reflect persistent bearish pressure
is holding near key support at 111,319, following a sharp two-day drop of over 4% that erased Monday’s gains. Investor sentiment remains subdued amid ongoing geopolitical tensions and economic uncertainty, contributing to the cautious tone in the market.
The momentum indicators continue to reflect the bearish pressure in the market. The RSI is flatlining below the neutral 50 threshold, while the MACD has dipped into negative territory, and well below its red signal line, suggesting that further downside cannot be ruled out.
A break below the 110,500 support level, which has intermittently capped losses since July, could expose BTC to the 200-day simple moving average (SMA) near 107,365. A decisive move below this level would likely signal a shift in sentiment and invalidate the broader consolidation trend. Further downside could extend toward 105,300.
Conversely, if BTC manages to reclaim the 50-day SMA at 114,406, currently acting as strong resistance for the sixth consecutive session, upside targets may emerge at 115,300. Beyond that, the 20-day SMA near 116,881 presents the next major hurdle. A decisive break above this level could initiate a recovery path toward 117,500, potentially restoring short-term bullish momentum.
Overall, is attempting to stabilize near a key technical level. Holding above 110,500 is crucial to preserving the broader neutral-to-bullish structure. On the other hand, a breakdown below the 200-day SMA would likely confirm a deeper correction.
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