BTC New Low: Is the Bottom Forming or Bears Still in Control

Taking lead from our previous analysis, Bitcoin remained under pressure throughout the week and printed a new low near 58,115 within the ongoing bearish correction.

Trend Hierarchy

Secular Trend: Bullish
Intermediate Trend: Bearish Correction
Short-Term Trend: Bearish

Bullish Side

The main bullish argument is the RSI bullish divergence visible on the daily chart and also on the 5-day timeframe.

This shows that bearish momentum may be weakening. However, divergence alone is not enough. It must translate into price action through higher highs, higher lows, and reclaiming important EMAs.

Bearish Side

The bearish case remains stronger for now.

BTC continues to form lower highs and lower lows, while major EMAs are still falling and aligned in bearish structure. Time analysis also suggests that the correction may not be complete yet.

The strengthening U.S. Dollar also adds pressure on Bitcoin and the broader crypto market.

Outlook

We maintain a bearish stance on BTC and the crypto market for now.

The bottom does not appear confirmed yet. Once BTC forms a clear reversal structure, we will update the view accordingly.

Stance

➡️ BTC Printed New Low Near 58,115
➡️ Lower Highs / Lower Lows Continue
➡️ EMAs Remain Bearish
➡️ RSI Bullish Divergence Visible
➡️ Price Confirmation Still Missing
➡️ Stronger DXY Supports Bearish Crypto View
➡️ Current Stance: Bearish Until Bottom Confirms

Price tells the story.

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