What happened to Bitcoin??
The cryptocurrency market has experienced a significant drop in the value of major currencies such as $BTC and $ETH , which has raised concerns among investors.
So let's analyze the market together:
General Trend 📈
The trend or general direction is "downward," as the price of Bitcoin has dropped from 150,000 to 100,700
and then returned to 101,000, therefore Bitcoin has lost more than 2% of its value in 24 hours.
📊 (MA) Moving Averages
The current price of Bitcoin is below all three moving averages, indicating a continuation of the downward movement.
💰 Trading Volume
We notice that the trading volume leans more towards selling, despite the recent candles showing attempts for a rebound, but buying remains weak compared to selling.
Therefore, the general advice currently is to monitor the market cautiously in hopes of a nearby rebound.
