Bitcoin Struggles Below Key Moving Averages Amid Bearish Pressure
- Bitcoin held near $66,992 on April 5, with weak momentum signals limiting upside potential.
- Bitcoin trades below all major moving averages (MAs) from the EMA (10) at $67,518 to the SMA (200) at $89,366.
- Price remains within a range of $65,500 to $69,500, indicating a likely breakout or breakdown as the next move.
- Momentum indicators such as RSI at 44 and MACD at -852 suggest a neutral-to-bearish sentiment.
Bitcoin’s price action is compressed within a broad sideways structure, staying above support near $66,500 but failing to challenge resistance closer to $74,500. The formation of lower highs reinforces a mild bearish tilt without an outright trend reversal.
Despite maintaining structural integrity above key support levels like $66,500 , bitcoin faces persistent downside risk due to trading below all major moving averages and weak momentum indicators . (Source)
