BTCUSDT Despite managing to stay above
27,000 for the past three days, Bitcoin's 9% loss last week spooked some new traders. For the past few days, Bitcoin has been trapped between the moving averages, indicating indecision among the bulls and the bears. The bulls are buying the dips to the 50-day SMA (27,078), while the bears are protecting the 20-day EMA (
28,466).This uncertainty is unlikely to continue for long. The downsloping 20-day EMA and the relative strength index (RSI) in negative territory suggest an advantage to the bears. This increases the likelihood of a break below the 50-day SMA. If this happens, the BTC/USDT pair could drop to the important support at
25,250, which the bulls are expected to defend strongly. On the upside, if Bitcoin manages to break and close above the 20-day EMA, it may signal the start of a bullish comeback, potentially leading to a rally to 
31,000.Let me know what you think!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.