Prime Highlights:
- Bitcoin fell below the crucial $80,000 level to a low of $74,500 on April 7, 2025.
- Technical trends suggest potential sideways consolidation between levels $75,100-$80,000.
Key Facts:
- Daily RSI shows growing bearish momentum, indicating further price fall.
- OBV is flat, showing moderate aggressive selling pressure at present.
Key Background
The latest dip under $80,000 by Bitcoin has created the cautiousness again in traders and analysts. Bitcoin dropped to $74,500 after reaching its fresh all-time high in the past few months, affirming short-term bearish market structure. The drop below the current support level of $78,600 means the sellers have briefly taken over the upper hand, ruining the positive vibes.
From a technical viewpoint, the Relative Strength Index (RSI) on the daily chart affirms increased bearish momentum. A declining RSI will, consequently, point to diminishing purchasing power, also likely to imply the uptrend momentum may be weakening. On-Balance Volume (OBV), however, a significant marker of buying and selling pressure, has remained flat over the last ten days. This stability means the drop will, perhaps, not come with behemoth sell-offs — a relief in contrast to fierce liquidation campaigns in Bitcoin’s recent bottoms.
On the four-hour chart, Bitcoin is consolidating between the levels of $75,100 and $80,000. Surprisingly, both RSI and OBV have made higher lows during consolidation, indicating a weak but not strong enough bull movement. This rally might be insufficient to reverse this bearish momentum unless the volume of buying returns adequately.
Liquidation data is another shocker. During the final days of March, Bitcoin’s price action above $82,000 saw long position buildup at around $81,100. With the price fall on this day, the same thing could repeat itself around $74,500 if Bitcoin holds up around this area. This build-up could produce another wave of liquidations in the event of prices falling once again, which should be prevented by traders.
As a whole, the recent Bitcoin plunge has established firm resistance and support levels. Even with indications showing short-term stabilization possible, longer-term indicators continue to be negative. Members are warned to stay on their toes and watch closely as volatility continues on.
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