BTBT slips as seller pressure weighs on short-term trend

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Bit Digital drops 6.01% to $1.49 today

Highlights

BTBT/USD exhibits persistent seller dominance across all timeframes, reflected in trading below major moving averages.
Momentum indicators collectively signal weak downside bias, despite some oscillators showing oversold or divergent conditions.
Price is expected to remain in a $1.36–$1.60 range with heightened risk of further declines if support at $1.36 fails.

Oversold signals persist as oscillators diverge from trend weakness

On the hourly chart, BTBT is trading below the $1.58 (MA-20) and $1.64 (MA-50) levels, with price action also under the longer-term MA-200 at $2.16 on the daily timeframe. The nearest visible resistance is the Ichimoku Kijun at $1.61 and support appears around $1.36. Momentum indicators remain weak: the Moving Average Convergence Divergence (MACD) and Awesome Oscillator are both in sell mode, while the Average Directional Index (ADX) is neutral, suggesting the current trend is not forceful. The Relative Strength Index (RSI) registers 35.62, which is oversold, with the Commodity Channel Index (CCI) also in oversold territory. However, the Stochastic RSI points to a strong buy, creating a divergence between oscillators and trending signals. Bull/Bear Power continues to print a sell signal, indicating intraday seller dominance.

Downside risk elevated as support faces renewed selling

Over the next two to three sessions, trading in BTBT is likely to remain within a volatility band of $1.36 to $1.60. There is a high probability of continued downward movement, with any significant rebound considered unlikely unless price sustains a move above resistance at $1.61. If support at $1.36 fails, further downside is likely. Otherwise, price action may consolidate between nearby support and resistance amid ongoing volatility.

Anton Kharitonov, expert at Traders Union, sees continued technical weakness in Bit Digital (BTBT) as price remains below key moving averages and momentum signals stay negative. Resistance at $1.61 appears difficult to break without a significant change in sentiment or flow. He notes the absence of relevant news, which adds little conviction for a reversal. "Until we see stabilization above $1.61, base case remains for further pressure or sideways consolidation near support."

Earlier, analysts noted that Bit Digital’s technical outlook remained bearish amid sustained selling pressure and weak momentum across multiple indicators. The latest developments reinforce this view, with selling persisting and traders now advised to monitor the $1.36 support level as a potential trigger for further downside.

Source of Data: BTBT Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.