Bitcoin Technical Analysis: BTC/USD briefly dips below $9,000 and loses the daily uptrend
|- Bitcoin slipped below $9,000 but managed to quickly recover towards $9,250.
- The daily uptrend is lost and the selling pressure keeps mounting.
Bitcoin lost the daily 12-EMA and the 26-EMA on June 24 after a notable crash towards $9,000. On June 25, Bitcoin finally succumbed and dipped below $9,000 but not for long. The top-ranked digital asset remains inside a daily ascending parallel channel formed at the beginning of May.
BTC/USD daily chart
-637287080674428428.png){kind=link}
Unfortunately, after losing $9,160, the daily uptrend was also lost and bulls need to prove themselves by trying to close above the 12 and 26-EMAs which are on the verge of a bear cross for the first time since February 25.
BTC/USD technical levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.