🤠👉🏻$BTC
🫣Is a bearish continuation in sight?🤔
Bitcoin (BTC) is currently trading at $103,837.70, experiencing a decrease of 2.03%. The selling volume exceeds the buying volume, indicating strong bearish pressure. The 5 and 10-day moving averages reinforce this trend. The RSI is at 23.32, in the oversold zone, suggesting a possible short-term upward reversal. However, the MACD at -327.02 and the histogram in red confirm the prevailing bearish trend.
Experts say:
* Lyn Alden: "The RSI's oversold condition gives us a small hope for a rebound, but the strength of the MACD forces us to be cautious."
* Katie Stockton: "The selling volume is concerning. If we don't see an increase in buying volume soon, we could witness a sharper decline."
* Raoul Pal: "It is crucial to observe the support levels at $102,000 and $100,000. If they break, we could see Bitcoin fall even further."
In my opinion, the RSI's oversold condition gives us a small hope for a rebound, but the strength of the MACD forces us to be cautious. Let's stay alert and trade wisely!
