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Bitcoin’s recent breakdown has rattled traders, with the price slipping below key support levels and sparking fresh concerns over the market’s direction. While a relief bounce may occur, many crypto analysts warn it could be nothing more than a trap before deeper losses unfold.
Bitcoin Loses Key Horizontal Support, Signals Weakness
In a recent update on X, Alpha Crypto Signal highlighted that Bitcoin has now lost its crucial horizontal support zone. The inability to reclaim this level quickly underscores weakness in the market, signaling that bearish pressure remains firmly in play. The breakdown, according to the analyst, opens the door for deeper downside movement in the coming sessions.
While a minor relief bounce from the $108,000 region could occur, it is unlikely to shift the broader outlook. Unless Bitcoin reclaims the broken support level with conviction, any short-term upward moves may only serve as setups for further decline. This suggests that bulls could struggle to regain control unless a decisive recovery materializes.
The analyst further noted that the current structure favors sellers, with bounces seen as opportunities for short entries rather than signals of a potential trend reversal. This aligns with the broader bearish momentum observed across Bitcoin’s price action since the loss of its support base. As it stands, the bias remains firmly bearish, with lower targets likely to remain in play until Bitcoin proves otherwise by reclaiming the lost horizontal support.
BTC Slips Below The 100 EMA: A Bearish Signal Unfolds
According to Cryptorphic, Bitcoin has fallen below the 100 EMA on the daily chart, a level widely regarded as a key trend indicator. The analyst explained that this breakdown is not a favorable sign for the bulls, as it often signals weakening momentum and the possibility of a deeper pullback.
This recurring pattern adds weight to the current bearish outlook, reinforcing the idea that the market may need to absorb additional downside pressure before stabilizing. With the loss of this support, Cryptorphic pointed out that the next area of interest lies around $103,000, where further correction could find temporary stability.
In conclusion, the crypto analyst made it clear that his focus will remain on whether Bitcoin can swiftly reclaim the 100 EMA in the coming sessions. A strong recovery above this level, he explained, would help preserve the broader uptrend and restore confidence among market participants. However, failure to reclaim the 100 EMA would likely allow bearish momentum to build further, increasing the risk of extended declines and testing lower supports.
