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Bitcoin Drifts Lower, Support at $25K-$27K
BTC is roughly flat over the past week. Technical signals suggest a neutral to bearish outlook.
Updated May 11, 2023, 4:55 p.m. Published May 20, 2022, 5:28 p.m. 1 min read
Bitcoin (BTC) continues to struggle around the lower end of a yearlong trading range. The cryptocurrency could find support at $25,000 and $27,000, although there is risk of additional breakdowns in price.
BTC was trading at $28,800 at press time and is down by 4% over the past 24 hours and roughly flat over the past week. Recent returns reflect choppy trading conditions with no sense of direction.
Momentum signals remain mixed despite oversold conditions on the charts. That suggests a neutral to bearish outlook over the next few days.
Lower support is seen at the 200-week moving average, which is currently at $21,954. A break below that level would yield a downside target toward $17,673, which would be a 74% drop from the all-time high of nearly $69,000 achieved last November. Bitcoin fell 83% peak-to-trough in the 2018 bear market.
Higit pang Para sa Iyo
The launch of round-the-clock bitcoin futures trading eliminates the long-standing CME weekend gap and marks another step toward fully integrated institutional crypto markets.
Ano ang dapat malaman:
- From Friday, CME Bitcoin futures and options now trade 24/7 on Globex, ending the traditional Friday-to-Sunday market closure that created the widely watched “CME gap.”
- Despite the structural shift, liquidity remains concentrated in ETF options and offshore perpetuals, with IBIT options open interest far exceeding CME crypto options markets.
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