The price of Bitcoin (BTC) has fallen below the 1-day Simple Moving Average (SMA), indicating a potential continuation of its downward trend. This breach signals increased bearish sentiment and heightened market volatility.<\/p>\n
Bitcoin’s market capitalization exceeds $1.3 trillion with a trading volume surpassing $25 billion. Currently, BTC is trading around $66,133, down 1.49% in the last 24 hours. The market cap and trading volume are down by 1.52% and 4.84% respectively.<\/p>\n
On the 4-hour chart, BTC is trading below the 100-day SMA and aiming to test the $64,515 support level. The composite trend oscillator on this chart indicates bearish momentum as both the signal line and SMA are in the oversold zone.<\/p>\n
Examining the 1-day chart reveals a possible short-term retracement before further downward movement past the 100-day SMA. The 1-Day Composite Trend Oscillator also suggests a bearish trend as both indicators head towards the zero line.<\/p>\n
Key support levels to monitor are $64,515, $60,158, $56,523, and $50,604. If Bitcoin continues its bearish trajectory, it could target the $64,515 support level and potentially breach it to test lower supports. Conversely, a reversal could lead to BTC challenging resistance levels at $71,909 and $73,811.<\/p>\n","protected":false},"excerpt":{"rendered":"
The price of Bitcoin (BTC) has fallen below the 1-day Simple Moving Average (SMA), indicating a potential continuation of its downward trend. This breach signals increased bearish sentiment and heightened market volatility. Bitcoin’s market capitalization exceeds $1.3 trillion with a trading volume surpassing $25 billion. Currently, BTC is trading around $66,133, down 1.49% in the […]<\/p>\n","protected":false},"author":1,"featured_media":13921,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Bitcoin May Drop Further as It Slips Below 1-Day Moving Average - Bitrabo","description":"The price of Bitcoin (BTC) has fallen below the 1-day Simple Moving Average (SMA), indicating a potential continuation of its downward trend. This breach signal"},"footnotes":""},"categories":[316],"tags":[4961,4373,448,449,1411,4962,4805,1137,3442,4960],"class_list":["post-13920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-1-day-sma","tag-1day","tag-bitcoin","tag-btc","tag-fresh","tag-fresh-lows","tag-heading","tag-lows","tag-slips","tag-sma"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/13920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=13920"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/13920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/13921"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=13920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=13920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=13920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}