BTC/USD Pair Forecast: Bears Regain Control After Limited Correction

BTC/USD
The BTC/USD pair fell sharply in early trading on Monday ( by about 6% until the middle of the European session ) as it declined by more than 50% from the ascending level of 80514/93052, indicating that the corrective phase from the lowest level in 8 months ( 80514 may have ended.

The larger bears regained control after recovery attempts that were repeatedly curtailed by the 20DMA drop and the weekly cloud peak, with the psychological support of 60K ) also breaking the floor of the last four-day consolidation and a strong downward acceleration, confirming the bearish signal.

The daily moving averages have returned to their full bearish formation and the negative momentum continues to strengthen, contributing to the growing negative expectations in the near term.

Closing below the broken 50% level (86783( to maintain the new bears playing strong for an attack at 85304 ) Fibonacci 61.8% (, and losing that at the opening at 83473 )76.4% ( and revealing the main support at 80514 ) the lowest level in several months on November 21 ( and 80 thousand ) psychological (.

It is expected that potential rises will be limited below the broken ten-day moving average )88903( to keep the bears in play in the near term.

Accuracy: 86783; 88262; 88903; 90000.
Sub: 85304; 83473; 80512; 80000.
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