Bitcoin BTC tickers down $23,049 buyers successfully held the 20-day exponential moving average, or EMA ($23,440), for the past two days, but the failure to sustain the rebound attracted strong selling on Feb. 24.
The negative divergence on the relative strength index (RSI) suggests that the bullish momentum is weakening. The BTC/USDT pair has reached immediate support at $22,800.
A break below this level could retest the crucial support zone between the 50-day simple moving average ($22,052) and $21,480.
Alternatively, if the price fails to sustain below the 20-day EMA, it will indicate that bulls are buying the dips, as they anticipate a move higher. A break and close above $25,250 may start the next leg of the uptrend.
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