Bit Digital shares technical analysis: Seller pressure keeps bears in control

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Bit Digital drops 3.31% to $1.46 today

Highlights

BTBT/USD closed at $1.46, down 3.31%, finishing near its session low during a period of high volatility.
The price remains below short-, medium-, and long-term moving averages, confirming ongoing pressure from sellers across all timeframes.
Technical signals are overwhelmingly bearish, with near-term downside likely in a $1.35 to $1.57 range and resistance at $1.63.

Bearish momentum persists as technical barriers and sell signals mount

BTBT is trading below the MA-20, MA-50, and MA-200, reflecting sustained pressure from sellers across short-, medium-, and long-term timeframes. The Ichimoku Kijun level at $1.63 acts as immediate resistance. On the indicator front, momentum remains weak with the MACD signaling Sell, while the ADX reading indicates neutral trend strength. The RSI stands at 35.38 with a Sell signal, the CCI is in oversold territory, and Stoch RSI is neutral, pointing to some exhaustion of selling pressure. Bull/Bear Power and the Awesome Oscillator both produce Sell signals, confirming strong seller activity seen in intraday moves.

Downside risk prevails as breakout levels define near-term outlook

Over the next 2 to 3 trading days, BTBT is expected to remain in a range between $1.35 and $1.57, reflecting typical volatility at current levels. The probability of an upward move is very low, while further downside remains highly likely, making a near-term rebound unlikely. If price breaks above resistance at $1.63, a relief rally could unfold; however, a drop below $1.35 would introduce renewed bearish momentum as the dominant scenario.

Viktoras Karapetjanc, expert at Traders Union, sees Bit Digital (BTBT) under broad selling pressure, with momentum and sentiment both negative. He believes the continued drop below key moving averages and weak indicator signals make a near-term rebound unlikely. Strength is needed above $1.63 to change the outlook, otherwise further downside risk remains elevated. "With sellers firmly in control and no supporting news, I expect BTBT to remain under pressure unless we see a clear break above resistance levels."

Earlier, analysts noted that Bit Digital was experiencing persistent bearish momentum as technical indicators signaled a strong risk of additional downside. The latest developments confirm and extend this bearish outlook, with traders advised to closely monitor for any decisive move below $1.35 that could accelerate declines.

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.