BITCOIN PRICE ANALYSIS CMP-$25,725: Will the bearish pressure persist?

Narrow range of consolidation is present for Bitcoin's price.

As anticipated, Bitcoin price has remained relatively stable over the past 24 hours, with no significant fluctuations observed. Market sentiment appears unchanged, characterized by low trading volume and a sideways price movement. The bulls in the BTC market are currently striving to break free from the bearish conditions that have kept the price range-bound between $25,000 and $26,000.

On The Daily Chart:

Bitcoin is currently consolidating above the $25,500 levels, with potential for an upward move if it surpasses the $26,200 resistance. Despite staying within a range below the $26,200 resistance, BTC bulls are defending the $25,500 support. The price is consolidating above $25,650 but remains below $25,800 and the 50-hourly Simple Moving Average. Additionally, a short-term bearish trend line is forming with resistance near $25,800 on the BTC/USD hourly chart. Bitcoin's weakness persists amidst a recovery in other risky assets, partly due to the strong US Dollar, which continues to exert downward pressure on its price.

On The 4-Hour Chart:

Bitcoin's price has dropped below the 50-EMA on the 4-hour chart, returning to pre-Bitcoin ETF anticipation levels and causing a sideways trend. Buyers are defending the $25,000 level, but declining EMAs suggest a possible continued downtrend. Technical indicators show a sideways MACD and RSI pattern, with MACD histograms signaling some bullish potential and the RSI struggling to pass the midpoint.

According to Coingabbar Price Analysis, the market capitalization of BTC stands at $501,326,002,342. The 24-hour trading volume is approximately $9,634,087,531.

KEY LEVELS :

RESISTANCE LEVEL : $26,000-$26,400

SUPPORT LEVEL : $25,500-$25,200

Will Bitcoin's price experience a resurgence or fall below the $25,000 mark? Is the current uncertainty surrounding BTC's price pushing it closer to $30,000 or $20,000? Is Bitcoin poised to initiate a bullish phase while it remains above $25,000? If $25,000 fails to provide support for BTC, where should it find its next stopping point? Please share your views in the comment box below.

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.