Bitcoin compresses below $64,000: bears prepare for a breakdown for COINBASE:BTCUSD by AltWoman
Bitcoin compresses below $64,000: bears prepare for a breakdown Bitcoin is trading near $63,917, consolidating inside a symmetrical triangle on the 1-hour chart. Volatility is shrinking, while lower highs and price action below the 200-hour SMA maintain a bearish bias. Technical picture — bearish pressure EMA 9: $63,951 SMA 50: $63,854 SMA 200: $64,627 BTC is holding near the 50-hour SMA, while MACD remains slightly negative and almost flat. A confirmed breakdown below $63,750 would break …
Bitcoin compresses below $64,000: bears prepare for a breakdownBitcoin is trading near $63,917, consolidating inside a symmetrical triangle on the 1-hour chart. Volatility is shrinking, while lower highs and price action below the 200-hour SMA maintain a bearish bias. Technical picture — bearish pressureEMA 9: $63,951SMA 50: $63,854SMA 200: $64,627BTC is holding near the 50-hour SMA, while MACD remains slightly negative and almost flat. A confirmed breakdown below $63,750 would break the triangle support and open the way toward $63,250 and $62,800. 🏦 Macro pressureThe Fed kept rates unchanged at 3. 50%–3. 75%, but three officials voted for a rate hike. The hawkish split, persistent inflation and elevated bond yields continue to pressure risk assets. The next major catalysts are U. S. GDP and PCE inflation data, which could trigger another volatility spike. 🎯 Trade setupDirection: Short on confirmed breakdown🔻 Entry: $63,700–$63,750🛑 Stop loss: $64,150🎯 Take profit 1: $63,250🎯 Take profit 2: $62,800The setup activates only after a confirmed breakdown. A recovery above $64,150 would invalidate the bearish scenario. Disclaimer: This is not investment advice. False breakouts are common near the apex of a triangle—wait for confirmation and manage risk carefully. DisclaimerThe information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in theTerms of Use.