Bitcoin Bear Market is still debatable as price below $45000 has broken many local supports in lower time frames. Red Bearish Candles are quite prominent even in the daily timeframe. Have we entered a Bearish Market now?
The live Bitcoin price today is $45,325.34 with a 24-hour trading volume of $35,248,539,997. Bitcoin is down 2.21% in the last 24 hours, with a live market cap of $851,646,048,612. We just posted that we see many Bullish Signals on Bitcoin Chart and it can rise to 250%. Let’s see what Bitcoin Chart further says.
Bitcoin Bear Market: Technical
We are not in a bear market; We don’t see it yet! For a bearish market, some important levels need to be broken. All we can say currently is, this may be a pullback. A trader must trade levels, not emotions. And have an open mind to ongoing events as crypto changes quickly.
The next few weeks are very important for Bitcoin. For me, 21 weekly ema is one of the very important key levels. Currently, it’s at $40,000 ~ $41,000 (These are weekly levels.) For now, we just need to hold these weekly levels for Bullishness so Bitcoin Bear Market is still away. On Daily, $42,850 is an important level for Bitcoin to retest as we already posted in an article you can read here.