The momentum indicator diverges bearishly, increasing risk to BTC price pullback to $ 100k
This is a sunny technical examination of coindesk analyst and chartered market technician Omkar Godbole.
Bitcoin’s
The Bull Run is stuck, with emerging technical signals pointing to a possible price dropback.
The leading cryptocurrency by market value exchanged close to $ 108,000 at the time of press, which tested the Bullish Trendline, which introduced the sharp increase from $ 75K to record highs of more than $ 110K, TradingView data show.
There is little bullish action in the past 24 hours across Report already Trump’s family media company plans to raise $ 3B billion to buy cryptocurrencies like Bitcoin.
A major momentum indicator called the 30-day change rate (ROC), which measures the percentage increase or decrease in Bitcoin prices last month, has released a “bearish divergence.”
The bearish pattern occurs when the price of an asset increases, but momentum indicators such as the 30-day change rate (ROC) do not confirm the same, indicating potential weakness and price correction.
Although Bitcoin remains within a bullish ascending channel, the 30-day ROC generates lower highs, signing a bearish variation and weakening momentum.
In addition, the day -to -day chart that moves the average convergence (MACD), an indicator widely used to measure strength and change, has flipped negatively, indicating a bearish shift in momentum.
All of this means that BTC can dive out of the bullish ascending channel, which potentially re-evaluate the basic psychological resistance-supporting support for $ 100,000.
The broader perspective remains constructive, consistent with the recent gold cross of the 50- and 200-day simple moving averages (SMA).
