Bitcoin daily gains near 5% as analysis eyes bullish ‘rotation’ from gold

💡 DMK Insight

Bitcoin’s push below the 200-week EMA is a critical moment for traders. This technical level often acts as a significant support or resistance point, and breaking below it could signal a shift in market sentiment. If BTC is showing upward momentum while testing this level, it suggests buyers are stepping in, potentially indicating a reversal or a strong support zone. Traders should keep an eye on volume during this period; a spike could confirm the bullish trend. However, there’s a flip side to consider. If BTC fails to hold above this EMA and starts to decline, it could trigger stop-loss orders and lead to a cascade of selling, pushing prices lower. Watch for key levels around $65,000 as a potential support zone. If BTC can reclaim and hold above the 200-week EMA, it could pave the way for a rally towards previous highs. The immediate focus should be on the daily close; a strong close above this EMA could signal a bullish continuation, while a close below might indicate further downside risk.