From a technical vantage point, BTC has fallen below both the 10- and 20-period exponential moving averages (EMA). Moreover, the 10-period EMA has begun to cross below the 20-period EMA, which traders may view as being short-term bearish in nature. Bitcoin’s price is challenging the support level of $20,500, as Monday’s “Market Wrap” suggested. Intraday volume is approaching average levels over the most recent 20 days of trading, which adds credence to the strength of the move
Related posts
-
Bitcoin rally hinges on rate cut, Bitfinex exec says
U.S. macroeconomic uncertainty drove Bitcoin to a two-month low, but cooling inflation suggests that monetary policy... -
Bitcoin Closes CME Gap, Expert Predicts What Happens Next
Crypto expert Michael van de Poppe has highlighted an important indicator which suggests that Bitcoin could... -
Why Bitcoin could stay low until October: What analysts are saying
The crypto market is on edge as Bitcoin hovers around $57,000, showing several bearish signals that...