Bitcoin (BTC) still dey under $75,000, bears dey target $66,000
Bitcoin (BTC) dey remain for bearish range after e fail to regain $75,000. BTC don hold above di $72,000 support since May 28, but buyers never push price back pass di key moving-average levels.
As of June 2, Bitcoin dey around $68,760 for di 4-hour chart, trading below di 21-day and 50-day SMAs. Both 21-day and 50-day SMAs don turn downward, wey dey reinforce short-term downtrend momentum. Di article point out demand areas near $80,000, $75,000 and $70,000, while supply dey higher at $120,000, $125,000 and $130,000. Despite long lower tails near $73,000 (signs say people dey buy for support), price still capped around di $74,000 resistance zone.
Key levels for traders: if price break down below $72,000 e fit open move toward $66,000. On di other hand, if e regain $75,000 Bitcoin fit move back toward di moving averages. (Author technical opinion; no be investment advice.)
Bearish
Both summaries talk say Bitcoin momentum still dey bearish because BTC never fit reclaim $75,000 and e dey trade under the 21-day and 50-day SMAs for the 4-hour chart. The later update add the current reference level (~$68,760) and stress say these moving averages don turn down, wey normally dey increase chance for more downside.
For short term, traders go likely watch $72,000 as the key line for sand. If $72,000 break, e go match the article projection wey talk downside toward $66,000, fit trigger extra selling and volatility. The lower tails wey dey near ~ $73,000 show say some people dey buy dips, but market still capped under the ~ $74,000 resistance area.
For longer-term positioning, to get back $75,000 na the prerequisite for any rebound try back toward the moving averages. Until that one happen, the structure wey both articles describe dey skew probability towards bearish continuation rather than a steady recovery.