Bitcoin price (BTC) trades in the range of $7000 today after finding support around the 50-day low of $6500 that it hit during the weekend. The largest crypto coin lost 18% of its price last week, down 45% in the last three months. Albeit recent volatility, technical factors are getting adverse for bulls who are looking for a sharp uptrend. Bitcoin price plunged below the 200 day and 50-day moving averages (dma), which technical analysts believe indicates a bearish trend for BTC price.
The moving averages have also formed a Death Cross trend when the 50-dma ...
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