Crypto Market Review: Bitcoin's (BTC) Falling Star, Chance for Shiba Inu (SHIB) Bull Run, Is Ethereum (ETH) at $2,800 Unbreakable?

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The market is not seeing enough inflows to bounce right here and now, but there is a great chance that we will see a recovery sooner than expected, as multiple assets have reached local support and stood their ground against selling pressure. With BTC's recent price action printing a falling star candlestick on the daily chart, Bitcoin is displaying a classic warning sign. BTC is rolling over once more after an unsuccessful attempt to regain higher ground, indicating rejection at resistance and reiterating the notion that downside risk is still possible. After Bitcoin stalled below the $95,000-$96,000 range, which corresponds with declining short- and mid-term moving averages, the falling star formed. The long upper wick and weak close of this candle structure indicate that buyers pushed the price higher during the day but were totally defeated by sellers. This is a distribution sign rather than a bullish failure in the given context. In terms of structure, Bitcoin is still below the 50-day and 100-day moving averages, and the 200-day moving average is still moving lower than the price. That placement is important and structurally meaningful within the broader trend. Rallies are statistically more likely to be sold than followed through as long as Bitcoin is trading below these levels. That dynamic is simply confirmed by the falling star. The caution is supported by momentum indicators. Instead of breaking upward, RSI is rolling over and staying in ...