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In this Bitcoin news update, we witness the awakening of the bear market as Bitcoin's price approaches 2-month lows. The BTC price action is now testing its key 200-week moving average, which has been a crucial support level since March. On May 12, Bitcoin came close to its lowest point since March 17, causing concerns about a potential “head-and-shoulders“ pattern that could favor the bears. Expert analysis and on-chain monitoring from Material Indicators suggest that we have entered “bearadise.“ A chart shared on Twitter revealed that the principal buy support is now around $25,750, with Bitcoin eating up liquidity higher overnight. Traders and market participants are worried about the “head-and-shoulders pattern“ visible on the chart, as its confirmation could set a negative precedent for Bitcoin's price. However, financial commentator Tedtalksmacro remains optimistic, emphasizing the need to reclaim levels above $27k to spark new interest. Meanwhile, trader and analyst Moustache points out that Bitcoin's key 200-week moving average is due for a retest, which is considered a critical “make or break level.“ This moving average has acted as support since mid-March. Despite the current downward trend, some analysts, such as Jelle, believe Bitcoin might make a final attempt to reach the $25,000 mark before a potential reversal. As the BTC price sinks, long positions have become more prevalent, according to analyst Philip Swift. He highlights the divergence between falling prices and the increasing long/short ratio, suggesting that the worst losses may soon be over. The long short ratio currently stands at 58.7% long, indicating growing confidence among investors. Stay updated on the latest Bitcoin developments as the bears charge into battle, and the cryptocurrency market enters a challenging phase. Bitcoin News | Awakening the Beast | Bears Charge into Battle | Bitcoin's $26K Breakdown | Bearadise Bitcoin Bitcoin News Bitcoin News Today Bitcoin Price Bitcoin Price Today Awakening the Beast Bears Charge into Battle Bitcoin's $26K Breakdown Bearadise Bitcoin's Bear Market Bitcoin's Bearish Slide Bitcoin Bearish Trends Ahead Bitcoin Bearish Battle Bitcoin Bears Roar Bitcoin Technical Analysis Bitcoin Technical Analysis Today Bitcoin Analysis Telegram Channel Link: Disclaimer – We make videos to educate people, so if you decide to invest after watching our video, we will not be liable for any profit or loss encountered by you in the process. DISCLAIMER: “Copyright Disclaimer under Section 107 of the copyright act 1976, allowance is made for fair use for purposes such as criticism, comment, news reporting, scholarship, and research. Fair use is permitted by a copyright statute that might otherwise be infringing. ================================== #BitcoinNews #Bearadise #BitcoinBreakdown #BitcoinPriceAnalysis crypto mash crypto mash news crypto mash news today Crypto Mash Podcast English Crypto Podcast Podcast crypto crypto news crypto news today cryptocurrency cryptocurrency news cryptocurrency news today
