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  • Bitcoin slipped below $9,000 but managed to quickly recover towards $9,250.
  • The daily uptrend is lost and the selling pressure keeps mounting. 

Bitcoin lost the daily 12-EMA and the 26-EMA on June 24 after a notable crash towards $9,000. On June 25, Bitcoin finally succumbed and dipped below $9,000 but not for long. The top-ranked digital asset remains inside a daily ascending parallel channel formed at the beginning of May. 

BTC/USD daily chart

BTCUSD

Unfortunately, after losing $9,160, the daily uptrend was also lost and bulls need to prove themselves by trying to close above the 12 and 26-EMAs which are on the verge of a bear cross for the first time since February 25. 

BTC/USD technical levels