Bitcoin price under pressure as the 21-week exponential moving average loses strength on the weekly chart. The price declined by about 9% and traded near $66,000. This marked the lowest weekly level since October 2024. The move followed continued selling activity across the crypto market.
Bitcoin Price Under Pressure After Losing 21-Week EMA Support
Bitcoin price under pressure intensified after the 21-week EMA failed to hold as support. This indicator is closely monitored by traders to assess trend strength. The loss of this level signaled a breakdown in the prior bullish structure. Weekly price action showed larger downside candles and lower highs. Buyers did not reclaim short-term control during the decline.
Bitcoin Price Under Pressure Near the 200-Week EMA
Bitcoin price under pressure pushed the asset toward the 200-week EMA. This level is considered a major long-term support. The article notes that Bitcoin is currently testing this zone. A weekly close below the 200-week EMA could open the door to further downside. Historically, this indicator has been tested during periods of high market stress.
$60,000 Level at Risk as Bitcoin Price Under Pressure Continues
Bitcoin price under pressure places the $60,000 level at risk. Technical analysis highlights a support range between $60,000 and $54,000. This zone includes Fibonacci retracement levels and prior daily support areas. If $60,000 fails to hold, attention shifts to $57,000 and then near $54,000. These levels align with extended retracement targets watched by traders.
Broader Market Conditions Add to Bitcoin Price Under Pressure
Bitcoin price under pressure occurred alongside weakness in related markets. Crypto-linked stocks such as Strategy, Mara Holdings, and CleanSpark declined. Traditional assets, including gold and silver, also moved lower. The article associates these moves with broader risk-off conditions across financial markets.
Bitcoin continued to trade with high volatility around key technical levels. The weekly structure remained fragile at the time of reporting.
Source: https://crypto.news/bitcoin-price-under-pressure-as-21-week-ema-weakens-60000-at-risk/
