BitcoinShort
What's Next for Bitcoin?
Taking a look at the daily timeframe, price action continues to trend lower in the bearish channel. In the event we get another daily candle that closes below the last, I would expect to see further downward momentum towards 55,000, and then 52,000.
Stochastics is overbought and RSI is holding below 50. These are 2 additional technical confirmations that this pair is likely to trend lower.
This week we also have Core CPI data on Wednesday. If we get a strong report, we may see a crypto selloff as the dollar will likely strengthen.
Stochastics is overbought and RSI is holding below 50. These are 2 additional technical confirmations that this pair is likely to trend lower.
This week we also have Core CPI data on Wednesday. If we get a strong report, we may see a crypto selloff as the dollar will likely strengthen.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.