While Bitcoin continues its tired relationship now, analysts are still looking for the next direction. Most of them are now dealing with bears because the downward momentum is more likely. One look at the long-term trend index brought the BTC to $ 8 million soon.
Bitcoin will fall
BTC’s daily outlook is not as good as it has been in the last two or two weeks. Term-related trading continues on the tightening channel and the breach may be inevitable. According to Tradingview.com, bitcoin briefly touched $ 10,200 yesterday, but has since fallen.
The BTC is now entering another consolidation phase, with the $ 10,000 silver level now trading after an unprecedented and weak Asian session. Daily Bitcoin volume plummeted to $ 14 billion.
Well-known trader and analyst Josh Reger has examined some average longitudinal guides. In the 20 and 21 week schedules, the EMA served as a strong support during the recent rally and was likely to repeat this behavior during this rally.