Bitcoin has decreased consistently in the last three days and has reduced its price again under the psychologically significant level of 95,000 US dollars.
While the baric mood builds up, the coin could drop to 90,000 US dollars, which further signals the leading cryptocurrency downwards in dynamics.
BTC -Bearish signals are stacked
The sliding average convergence -indicator (BTC) will form shortly before a death cross, a technical pattern that occurs when the MACD line is exceeded below the signal line.
Bitcoin macd. Source: Tradingview
The MACD indicator pursues the price trends of a wealth value and identifies potential purchase or sales signals based on the trend direction and impulse shifts.
The current BTC MACD setup is remarkable because the emerging death cross of the indicator normally signals the beginning of an extended price drop. This contributes to the increasing concerns regarding the short -term price campaign of the coin.
In addition, the persistently negative financing rate of BTC further adds this bearish outlook. Data from Coinglass show that the financing rate of the coin has recorded more days in red than in the green since May 1st, which reflects a growing preference for short positions at futures dealers.
At the time of the press, the financing rate is -0,0002%, which indicates that most dealers are more on the continued downside than on price recovery.
Bitcoin financing rate. Source: Coinglass
The options market also paints a dark picture for the short -term price -performance of BTC. At the time of the press, the put-to-call ratio of BTC is 1.33.
Bitcoin options open the interest. Source: Deribit
This means that there are much more open contract contracts – in which the price of BTC will fall – as contracts that are usually optimistic. A ratio of one ratio shows that BTC bears deviate before the further disadvantage or are actively positioned for a drop in price in the nearby term.
BTCS Next step: 87,000 US dollars crash or 96,000 US dollars rebound?
BTC is currently $ 94,598 after converting the price rating of $ 95,000 into a level of resistance. The royal coin could extend its decline to 92,048 US dollars with a growing bear.
If the bulls cannot defend this resistance, the price could drop below 90,000 US dollars to act at $ 87,908.
Bitcoin price analysis. Source: Tradingview
However, this bearish outlook could become invalid if the bulls regain the market control. In this case, BTC could regain over 95,000 US dollars and gather at 96,187 US dollars.

Disclaimer
In accordance with the guidelines for the trust project, this price for price analysis only serves for information purposes and should not be regarded as financial or investment advice. IninCrypto undertakes to precise, impartial reports, but the market conditions can change without prior notice. Always carry out your own research and contact a specialist before making financial decisions. Please note that our general terms and conditions, data protection guidelines and disclaimers have been updated.