Bitcoin continues to trade below crucial short- and medium-term exponential moving averages, indicating a lack of bullish momentum. The daily market report highlights weak momentum, with Bitcoin prices unable to reclaim short-term trend levels. Despite easing downward pressure, sellers maintain control as the MACD remains below its signal line, confirming a bearish outlook.
The Relative Strength Index (RSI) is below the neutral midpoint, reflecting low buying interest without signs of panic selling. Resistance is strong above $87,000, with multiple failed attempts to break through. While Bitcoin consolidates, altcoins may present alternative opportunities. Order book data shows seller liquidity clustered above current levels, with support at $87,000 holding steady. A daily close above key averages could shift market sentiment, but for now, Bitcoin remains in a transitional phase.
Bitcoin Struggles Below Key Averages Amid Weak Momentum
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