Bitcoin - Losing MA200 SupportBitcoin / U.S. dollarBITSTAMP:BTCUSDAmer_ShouaebBitcoin has just shown a technical warning sign — for the first time since April, 3 daily candles have closed below the 200-day moving average (MA200). This signals a potential shift in trend and raises the risk of a deeper correction. ⸻ 🔹 Current View •BTC is trading around $107,600, struggling to reclaim the MA200 (~$107,700). •The price had been moving inside a purple rectangular range since July, consolidating between roughly $107K and $123K. •On October 17th, BTC broke below that rectangular range, confirming a range breakdown and increasing bearish momentum. •Both the 50 SMA and 100 SMA are now above price, adding downward pressure. •The RSI sits near 38, showing weakening momentum and potential continuation to the downside. ⸻ 🔹 Key Levels to Watch •Immediate Resistance: $114,000–$115,000 (50 & 100 SMAs) •Next Supports: $104,000 → $96,000 → $88,000 •A move toward $88,000 would align with the long-term trendline support and could form a strong accumulation zone before the next major rally. ⸻ 🔹 Outlook As long as BTC remains below the MA200 and outside the previous range, the short-term trend is bearish. However, this correction could present a great buying opportunity for long-term investors once key supports are tested. ⸻ 🧠 “Breaking below the MA200 and losing the range often signals weakness — but it’s where long-term setups are born.” 📜 Disclaimer: This is general information only and not financial advice. Always do your own research before investing.