Analyst: Bitcoin's 5 major technical indicators signal a bearish trend, with support levels looking as low as $52,820
According to crypto analyst @ali_charts, there have been 5 sell signals for Bitcoin in the past month:
The monthly MACD for Bitcoin BTC has turned bearish for the first time since 2022;
On the daily chart, the 50-day moving average has crossed below the 200-day moving average, forming a "death cross";
Bitcoin has lost support at the 50-week moving average, a level that historically often indicates a significant pullback;
The SuperTrend indicator on the weekly chart has issued a sell signal, which has long-term reliability in trend reversals;
The bi-monthly TD Sequential indicator has also issued a sell signal for Bitcoin, with the last two similar signals triggering adjustments of 78% and 32%, respectively.
@ali_charts indicates that if Bitcoin further pulls back, key support levels may be at $75,740, $56,160, and $52,820.
Risk warning Risk warning
