Bitcoin's $5,000 Pullback: Post-Election Gains Erased

BTC fell 6% in 24 hours to $75,720, erasing its post-election gains; this news confirms the current weak momentum. Although the RSI is near the 30 threshold and approaching oversold territory, there is no reversal signal yet. The MACD is below its signal line and in negative territory, and the price is trading below the SMA20 and SMA50; the short-term trend is downward. Since the news flow is negative, downward pressure may persist over the next 1-3 days, but oversold conditions could limit the pace of sharp selling. Nevertheless, I approach the downside with cautious confidence, as reactive buying may emerge.

COIN may remain under short-term pressure amid news that a $5,000 Bitcoin pullback has erased post-election gains. The price is trading at 136.84, below both the SMA20 (145.67) and SMA50 (148.50), indicating a weak short-term trend. Although the RSI at 36.8 is approaching oversold territory, no reversal signal has yet emerged. The MACD (-2.81) is below its signal line (-1.63) and in negative territory, with momentum to the downside. Therefore, the 1-3 day outlook is bearish, although oversold conditions may limit sharp declines.