“Bitcoin Could Fall Out of It Bullish Channel, Possibly Testing Support at $ 100,000, Thought The Broader Outlook Remains Positive.”, – WRITE: www.coindesk.com
Bitcoin’s
Bull Run Has Stalled, with Emerging Technical Signals Pointing to a Possible Price Pullback.
The Leading Cryptocurrency by Market Value Traded Near $ 108,000 at Press Time, Probing The Bullish Trendline, Characterizing The Sharp Rise From $ 75k Tota High
There have been Little Bullish Action in the Past 24 Hours Despite Reports that Trump Family Media Company Plans to Raise $ 3b Billion to Buy Cryptocurrencies Such.
A Key Momentum Indicator Called The 30-Day Rate of Change (ROC), WHICH MEASures the Percentage Increase or Decrease in Bitcoin’s Price Over The Past MONTH, HAS CHALCEN.
The Bearish Pattern Happens Who An Asset’s Price Rises, But The Mmentum Indicators Like The 30-Day Rate of Change (ROC) Fail to Confirm the Same, Hinting at Potential Weakness And Price.
BTC’s Daily Chart. (TradingView/Coindesk)
Althugh Bitcoin Remains Within A Bullish Upward Channel, The 30-Day Roc is Forming Lower Highs, Signaling a Bearish DiverGence and Weakening Momentum.
Additionally, The Daily Chart Moving AVERAGE CONVERGENCE DIVERGENCE (MACD) Histogram, An Indicator Widely Used to Gauge Trend Strength and Changes, Has Flipped Negativ, Indicate.
All this means that btc Could Dive Out of the Bullish Ascending Channel, Potentilly Revisiting the Majoor Psychological Resistance-Turned-Support at $ 100,000.
The Broader Outlook Remains Constructive, Consistent with The Recent Golden Cross of the 50- and 200-Day Simple Moving Averages (SMAS).
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