According to it, the just concluded trading session last weekend was marked by a surge in interest in BTC on multiple social platforms.
It added that this rise in the king coin’s weighted social sentiment over the last weekend was an indication that an extreme level of FUD lingered in the BTC market. According to the analytics platform, this usually precipitates a spike in the price of an asset.
The Relative Strength Index , also on a freefall since 13 September, was at 39.90 as of this writing. The consistent fall in these key indicators only hints at one thing – waning buying pressure. Represented by red histogram bars , there was a downward intersection between the MACD line and the trend line on 18 September, which indicated the commencement of a new bear cycle.
Source: Digital Coin News (digitalcoinnews.net)
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