BTCUSD: Is Bitcoin Preparing for a Bounce or Another Breakdown? for COINBASE:BTCUSD by ProfessorSingapore
BTCUSD: Is Bitcoin Preparing for a Bounce or Another Breakdown? Bitcoin is still reacting to mixed crypto sentiment: institutional demand remains supportive, but profit-taking near $65K and weaker Coinbase-related sentiment are limiting upside. The bigger macro trigger remains the Fed: stronger USD/yields can pressure BTC, while softer US data can support a rebound. On the 30-minute chart, BTCUSD rejected $64,950-$65,000 and is trading below the short-term moving averages. RSI near 42 shows …
BTCUSD: Is Bitcoin Preparing for a Bounce or Another Breakdown?Bitcoin is still reacting to mixed crypto sentiment: institutional demand remains supportive, but profit-taking near $65K and weaker Coinbase-related sentiment are limiting upside. The bigger macro trigger remains the Fed: stronger USD/yields can pressure BTC, while softer US data can support a rebound. On the 30-minute chart, BTCUSD rejected $64,950-$65,000 and is trading below the short-term moving averages. RSI near 42 shows weak momentum, Stoch RSI is trying to recover from the lower zone, but MACD remains negative. This means a bounce is possible, but bullish confirmation is not here yet. Bullish ReclaimIf BTC reclaims $64,600 and holds above it, price can retest $64,950-$65,000. A clean breakout above $65,000 opens the way toward $65,500-$65,800. Rejection From ResistanceIf BTC bounces but fails near $64,600-$65,000, sellers may step back in. This could push price back toward $63,950-$64,000. Bearish BreakdownIf BTC breaks below $63,950-$64,000, downside momentum may accelerate. Next targets: $63,600, then $63,300. ⚠️ Not financial advice. 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.