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Bitcoin Price Forecast: Falls Below Key Moving Averages, Bearish Signs Emerge
video Bitcoin shows clear signs of weakening today as it falls below the 20-Day MA and an internal uptrend line. This follows a seven day relatively sideways move that tested a resistance zone with a high of 71,790. Demand was not strong enough to take it higher out of the range and now the sellers are back in charge. Next stop looks to be a test of support around the 50-Day MA, which is currently at 62,800. That lines up closely with the next lower internal uptrend line. chart Lower Swing High in Place: Note that today’s decline has confirmed a lower swing high for Bitcoin. In addition, a weekly bearish ... (full story)
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- Posted: Apr 3, 2024 4:42am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 229
