BTC seems to have topped out as previous highs have been strongly rejected, as indicated by the large red volume bars.
Reasons of concern:
- Strong bearish trend on the RSI
- High selling volume
- Increased media attention for Bitcoin
A conservative price target would be at the supporting trendline and historical support level of $8750.
Reasons of concern:
- Strong bearish trend on the RSI
- High selling volume
- Increased media attention for Bitcoin
A conservative price target would be at the supporting trendline and historical support level of $8750.
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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.
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.