Bitcoin Falls as Technical Indicators Signal Bearish Trend | Airdrop Alert Pro

Bitcoin (BTC) has faced huge downward pressure over the past week, with its price falling below $90,000 for the first time since November 2024. Its price has dropped 11% over the past seven days, and current trading is close to the key resistance level of $85,985.

Technical indicators mainly show bearish signals. The Red Cloud is above the current price action and expands slightly, indicating an increase in bearish momentum. Despite short-term weaknesses, some analysts point to potential signs of recovery as the short-term EMA line begins to trend upward.

Bitcoin Ichimoku Cloud displays bearish settings

Ichimoku Cloud Bitcoin shows a very bearish sentiment. The red cloud (kumo) is located above the current price action, marking the resistance zone where BTC needs to break through to reverse the trend. The cloud also expanded slightly, indicating an increase in bearish momentum.

The leading span A (green line) is below the leading span B (red line), further confirming the bearish outlook. Additionally, the price is trading below the blue Tenkan-Sen (conversion line) and the red Kijun-sen (baseline), indicating that the short-term trend is still under downward pressure.

Tenkan-sen has begun to flatten, which usually indicates a pause or consolidation in a downtrend. However, it is still under Kijun-Sen, enhancing bearish bias.

Green chikou span (lag line) below price action and cloud, support Continuous bearish trend. Overall, bearish momentum may persist unless BTC can push cloud resistance and the Tenkan-Sen crossover above Kijun-Sen.

BTC whales are declining in the past 5 days

The number of Bitcoin whales, defined as an address holding at least 1,000 BTC Stabilize growth until peak February 22 2,054.

However, the indicator has begun to decline since the highs, with the current number of 2,042 whale addresses.

Tracking these large holders is crucial for market participants because whales have important marketing abilities. Their accumulation or distribution methods are usually preceded by major price changes, and their concentration levels provide insight into Bitcoin’s wealth distribution and overall network health.

Recent declines in whale addresses may mark short-term sales pressure as these large holders may be profiting or redistributing their holdings in multiple wallets Safety Purpose, may lead to price volatility Or downward pressure in the short term.

Despite the recent decline, it is important to note that the current 2,042 whales have continued to increase historically compared to previous years, indicating a continued strong institutional and high net worth individuals. Bitcoin as a long-term storage of value. According to COO Tracy Jin of MEXC:

“The long-term trend remains the same: institutional demand, including ETFs and new investment products, and the development of Bitcoin infrastructure, continues to strengthen its position. However, the short-term outlook remains under pressure: the market is going through a liquidation phase of over-leverage, with a low risk appetite. The market is going through a liquidation phase of over-leverage, with a reduced appetite for risk, but this is beneficial to the long-term healthy development of BTC,” Jin told Beincrypto.

Will Bitcoin return to above $90,000?

Bitcoin’s current resistance level is $85,985. Failure to maintain this support could trigger a downward drop in the $82,000 range, Continue with the current correction.

Distance close to this level of resistance has exacerbated tensions among traders, who are carefully focusing on signs of direction in this turbulent market.

Despite the current bearish construct against the Bitcoin Index Moving Average (EMA) line (short-term indicators are located at their long-term counterpart), there are still emerging signs of potential optimism.

“Despite the decline at present, Bitcoin’s long-term trajectory remains strong. Institutional participants continue to improve their position in BTC, as well as the development of Bitcoin infrastructure (Includes new ETFs and payment solutions only strengthen its position as digital gold. In the short term, prices need to recover more than $96,000-100,000, which will confirm that the market is ready for new growth. If the pressure continues, the market may enter a deeper correction phase. ”
Stealthex CEO Maria Carola.

The upward trajectory of the short-term EMA line suggests that the trend may be reversed in the near future. If this bullish cross is realized, Bitcoin’s price may gain momentum Challenge resistors for $93,000.

A breakthrough at this level could drive the next important target of $96,375, which could indicate a recovery in a broader uptrend, suggesting that Bitcoin has performed a lot lately.