04.03.2025 20:21
As Bitcoin's price has experienced a sharp decline in recent weeks, it has attempted a brief recovery, but the correction process is not yet complete. As panic selling begins in BTC, what should investors do? Technical analysis and predictions are in our report...
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Bitcoin Technical Analysis
Daily Chart
Bitcoin has been continuously losing value in recent weeks, falling below the 92 thousand dollar level and is currently testing the 200-day moving average around 83 thousand dollars.
If the price falls below this moving average, the likelihood of the market being dragged into a deeper decline is high. In this scenario, the bull market is expected to end for at least a few months.
4-Hour Chart
Looking at the short-term chart, it is seen that Bitcoin's recent recovery movement has been completely erased. The price is at the last support point before the possibility of a new low level forming.
The imbalance seen in the chart could be a turning point for Bitcoin and may allow the price to rise above the 92 thousand dollar level and even reach the 100 thousand dollar region. However, considering that the RSI indicator has clearly given a bearish signal, the likelihood of the market falling below the 80 thousand dollar level seems higher.
Market Sentiment Analysis
Short-Term Investor SOPR Data
With Bitcoin's decline in recent weeks, it has been observed that investors who entered the market, especially in the last few months, are engaging in panic selling.
This situation is clearly visible in the SOPR (Selling Profitability Ratio) chart of short-term investors in Bitcoin. When the SOPR data shows negative values, investors try to avoid larger losses by selling at a loss.
If the selling pressure in the market is not sufficiently absorbed by buyers, an oversupply may occur, which could lead to further declines in price in the coming weeks.
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