2021-03-10 10:31
Market analysisBitcoin Price Analysis:
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Bitcoin Price Analysis: BTC shows an increase in bearish momentum
Bitcoin price is shaping a small cup pattern on the daily chart.
A rebound off the February 28 low lacks impulsiveness.
A failure to hold the 50-day moving average could lead to big losses.
Bitcoin price is working on its 6th consecutive positive month; a feat last accomplished in 2013. However, the flagship cryptocurrency seems primed for a downward impulse.
Bitcoin price not ready for new highs yet
Bitcoin price recovery from February’s low has lacked price impulsiveness and supporting volume. Meanwhile, the Relative Strength Indicator (RSI) created a bearish momentum divergence.
Due to the weak underlying technical, it would not be a surprise to see Bitcoin price retest the February 28 low at $43,200 to shake out some holders.
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Bitcoin Price Analysis:
Philippines | 2021-03-10 10:31Bitcoin Price Analysis: BTC shows an increase in bearish momentum
Bitcoin price is shaping a small cup pattern on the daily chart.
A rebound off the February 28 low lacks impulsiveness.
A failure to hold the 50-day moving average could lead to big losses.
Bitcoin price is working on its 6th consecutive positive month; a feat last accomplished in 2013. However, the flagship cryptocurrency seems primed for a downward impulse.
Bitcoin price not ready for new highs yet
Bitcoin price recovery from February’s low has lacked price impulsiveness and supporting volume. Meanwhile, the Relative Strength Indicator (RSI) created a bearish momentum divergence.
Due to the weak underlying technical, it would not be a surprise to see Bitcoin price retest the February 28 low at $43,200 to shake out some holders.
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Others
Others
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