2 years ago
Bitcoin (BTC) was astir level implicit the play arsenic terms momentum continued to slow.
The cryptocurrency remains stuck beneath the $46,000 absorption level, though little enactment astatine $35,000 and $40,000 could stabilize pullbacks implicit the abbreviated term.
The 50-day moving mean was incapable to show a affirmative slope implicit the past week, indicating continued selling strength. Indicators besides approached overbought territory, which typically precede pullbacks successful price, accordant with the downtrend since November.
For now, BTC upside appears to beryllium constricted arsenic momentum signals stay antagonistic connected play and monthly charts.
Bitcoin was trading astir $42,000 astatine property clip and is down 3% implicit the past week.
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Damanick is simply a crypto marketplace expert astatine CoinDesk wherever helium writes the regular Market Wrap and provides method analysis. He is simply a Chartered Market Technician designation holder and subordinate of the CMT Association. Damanick is besides an equity/fixed income portfolio manager and does not put successful integer assets.
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