“We have been bullish on bitcoin since the end of January, but the risk-reward analysis favors a period of consolidation,” Matrixport analysts said. “This bull market still has legs, but the divergence between a declining RSI and still high Bitcoin prices could signal that Bitcoin needs to consolidate before rallying again.
Bitcoin (BTC) Price Dips 5% Then Rebounds; XRP, DOGE, LTC Lead Crypto Losses
