BTC—Bearish Divergence Spotted BTC To Continue Fall?
Bitcoin is near the 80k area. After making a high of $109,588 on 20th January, BTC has shown weaken momentum and an indication of plummeting from the peak.
Bitcoin has recently broken its support of the sideways range of $89,427.
Due to global tension and overall economic turbulence, BTC is witnessing a fall.
As per experts, this is a failure of the bull run in BTC.
Using the Relative Strength Index, we can observe the Bearish Divergence on BTC.
The next possible level for BTC to halt is near $73,690.
Let's see where BTC takes a halt.
Note: This is not a financial advice but an analysis to explain the current situation of BTC. Kindly consult your financial advisor before investing.
Bitcoin has recently broken its support of the sideways range of $89,427.
Due to global tension and overall economic turbulence, BTC is witnessing a fall.
As per experts, this is a failure of the bull run in BTC.
Using the Relative Strength Index, we can observe the Bearish Divergence on BTC.
The next possible level for BTC to halt is near $73,690.
Let's see where BTC takes a halt.
Note: This is not a financial advice but an analysis to explain the current situation of BTC. Kindly consult your financial advisor before investing.
Note
Bitcoin is almost 45% away from its realized value which indicates BTC is still bullish.
This is per the theory of BTC price Vs its realised value.
Until the BTC is above its realized value, the 200-week simple moving average will act like a strong support.
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.
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.