Weak momentum: Can BTBT avoid deeper losses?

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Bit Digital drops 3.99% to $1.44

Highlights

BTBT continues to experience strong selling pressure, remaining below key short-, medium-, and long-term moving averages.
Multiple technical indicators, including MACD and oscillators, confirm a bearish trend with oversold momentum persisting intraday.
BTBT is expected to trade between $1.32 and $1.52 over the next three days, with a high likelihood of further downside.

Weak momentum confirmed as oversold signals and volatility drive downtrend

On the hourly (H1) chart, BTBT trades below the MA-20 at $1.54 and the MA-50 at $1.52, while remaining under the long-term MA-200 at $2.11. The Ichimoku Kijun sits at $1.52 and serves as immediate resistance just above current levels. MACD is showing a Sell signal and ADX is neutral. Momentum remains weak, with RSI at 30.44 and both Stochastic RSI and CCI confirming oversold conditions, pointing to short-term seller exhaustion. Bull/Bear Power maintains intraday seller dominance and the Awesome Oscillator continues to indicate a prevailing downtrend, with high volatility reinforcing the current bearish sentiment.

Sideways trading likely as downside risk persists amid weak reversal odds

Over the next three trading days, BTBT is projected to trade within a volatility band of $1.32 to $1.52. The probability of a sustained upward reversal remains low, while further downside is highly likely. The most probable scenario is a sideways move within this range; a bullish setup would require a clear breakout above resistance at $1.52, whereas a drop below $1.32 would confirm continuation of the current downtrend.

Viktoras Karapetjanc, expert at Traders Union, believes the technical outlook for Bit Digital remains weak as the price trades below all major moving averages and bearish momentum dominates. He notes oversold signals could slow further decline, but the absence of positive news limits bullish sentiment and suggests the downtrend is not yet exhausted. The analyst sees a sideways consolidation between $1.32 and $1.52 as most likely near term, with little evidence of reversal. "If buyers cannot reclaim the $1.52 level soon, further downside remains the higher probability," says Karapetjanc.

Earlier, analysts noted that Bit Digital continued to face persistent bearish momentum and heightened downside risk as technical signals showed limited prospects for an immediate rebound. The latest market action reaffirms this view, with sellers firmly in control and increased volatility suggesting traders should closely monitor the potential for a breakdown below the $1.32 support level in the near term.

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.