In the realm of finance, where fortunes rise and fall with the capriciousness of a summer breeze, we find ourselves in a most dismaying state. Bitcoin, that once-proud sovereign of the digital realm, now bleeds profusely, its value plummeting with a vigor that would make even the most stoic investor wince. The market, it seems, has abandoned all pretense of support, leaving our beleaguered hero to stagger toward ever-lower lows. Though whispers of oversold signals may flutter about, the absence of a proper futures capitulation suggests that further despair is but a candle’s flicker away.
By Shayan
The Daily Chart
Behold the daily chart, where BTC hath shattered the long-standing ascending channel, a fortress it once held for months. The 50-day moving average, in its folly, crossed below the 200-day, forming a death cross of such grim portent that even the most optimistic soul would weep. Support levels of $100K and $86K, once thought impregnable, now lie in ruins, as BTC marches boldly toward $76K. The RSI, deep in oversold territory, offers no solace, for no sharp reversal candle or volume spike hath appeared to rescue us from this abyss. Alas, more downside doth loom.
The 4-Hour Chart
Zooming into the 4-hour chart, we find BTC ensnared in a descending channel, a prison of its own making. Yet the sellers, with ruthless determination, have broken its bounds, their momentum unrelenting. Feeble attempts at a bounce are met with disdain, reduced to mere candle wicks. The $85K zone, now a specter of resistance, shall haunt our dreams. With RSI near 20 and failed recoveries multiplying like rabbits, the bearish tide shows no sign of abating-unless, perchance, a miraculous volume surge intervenes. 🐻
Sentiment Analysis
Funding Rates
Funding rates, that barometer of trader sentiment, remain stubbornly positive, a curious contradiction amidst the carnage. One might suppose the longs, in their obstinacy, cling to hope like children to a tale of fairy gold. Yet true capitulation, that harrowing crescendo of liquidations, hath not yet occurred. Until funding rates turn negative and the market gasps in collective panic, the downward spiral shall persist. Any rally, however sweet, shall be met with open arms-by short-sellers, of course. 🕊️
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2025-11-21 17:58