Bitcoin’s key momentum metric just flashed bearish with BTC price pinned under $50K
The relative strength index is making lower highs while correcting from its overbought area.
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The relative strength index is making lower highs while correcting from its overbought area.
Dan McDermitt from TheChartGuys says Bitcoin’s growth over the past month has been impressive but a "major catalyst" is needed if BTC is to reach a new all-time high.
Traders say a correction to lower support levels and standard profit-taking was expected after Bitcoin’s swift ascension to $50,000.
"The Market Report" with Cointelegraph kicked off at 4:00 pm UTC on Thursday. Find out what our analysts think about the BTC bull market and where we could be headed…
The indicators, coupled with a strong bid momentum versus the offers, suggest that Bitcoin’s price could push above $50,000 in the coming sessions.
Protocol upgrades and a new cross-chain Ethereum bridge back the rally in TLOS, GNO and ALPHA.
“Watch carefully, maybe take some profits or hedge a bit,” advises John Bollinger.
Bitcoin has lost the $50,000 level but derivatives data lays out a few good reasons why bulls might march on the resistance level ahead of Friday’s $2 billion BTC options…
Bitcoin correcting after a big announcement of Michael Saylor and facing crucial resistance at $51K.
MicroStrategy’s Bitcoin holdings are now worth more than $5.3 billion at the current BTC price.