According to @RhythmicAnalyst, Bitcoin (BTC) has broken down as forecasted last month, despite widespread market expectations for higher price levels in July. The analyst notes that downside pressure, previously dismissed by many traders, has materialized, echoing their earlier correction warning from January. This shift highlights the importance of monitoring bearish signals and technical levels for BTC trading strategies. Source: @RhythmicAnalyst.

According to @RhythmicAnalyst, the NASDAQ index is currently positioned at a crucial support level, with increasing downside pressure. This technical setup may indicate heightened volatility and risk for traders, impacting both traditional equities and crypto markets that often correlate with tech stock movements. Market participants should closely monitor NASDAQ's price action, as a breakdown below support could trigger further selling momentum, influencing sentiment in Bitcoin (BTC), Ethereum (ETH), and related digital assets. Source: @RhythmicAnalyst.

According to @RhythmicAnalyst, the current 6-month S&P500 Index candle is showing patterns similar to the 2000 and 2008 market tops, with heightened downside pressure. Notably, the analyst highlights the 2000 to 2600 range as a critical support zone, signaling a potential for significant declines if breached. However, a weekly close above 5900 would negate the bearish outlook. This analysis is crucial for crypto traders, as major equity market corrections can trigger increased volatility and capital flows into or out of digital assets, impacting Bitcoin and altcoin prices (Source: @RhythmicAnalyst, Twitter, May 12, 2025).

According to Mihir (@RhythmicAnalyst), Bitcoin is currently facing a significant resistance zone identified by the orange ring on the chart, which is likely to exert downside pressure on the price (source: Twitter, April 26, 2025). Traders should closely monitor this resistance area as it may trigger a short-term decline or increased volatility in BTC trading. This technical setup highlights the importance of resistance levels in Bitcoin price action and underscores the need for risk management strategies in the current market environment.

According to Greeks.live, the cryptocurrency market sentiment is overwhelmingly bearish, with traders focusing on significant downside pressure for BTC and ETH. Key levels under watch include the recently lost $80K, $78K, and potential further declines.