Bitcoin is moving with a short-term bearish bias with the local support located at $8,700. Previously this level attracted new buyers and helped to engineer the recovery. However in case of a break below the aforementioned support, downward move toward $8000 may accelerate. One should be aware that if the bulls fail to save the price from declining below the $8000 level, which is additionally strengthened by 200 MA (red line), then this might be a beginning of a very devastating downtrend.

Bitcoin fell by 4% on Monday, violating the support of the 2.5-month-long bullish trendline. The breakdown is backed by a slightly deeper bars on the MACD histogram, a sign of strengthening bearish momentum. However if bulls will manage to take control, then the local resistance is located around $9,400. Source: xStation5
Crypto News: Bitcoin Is Building a Bottom but Still Lags Wall Street 🚩 Have Whales Stopped Selling?
Daily Summary: Dow Jones hits record highs, while gold and silver rally on hopes for a US–Iran deal
Crypto News: Bitcoin Ignores Optimism On Wall Street. Is the Crypto Bull Market Ready to Return?
Morning Wrap: Wall Street Returns to the Offensive as Palantir Fuels AI Optimism