Bitcoin (BTC) price action over the past eight days signals a lack of volatility and reduced liquidity.
Bitcoin price has formed a potential top signal that forecasts a sell-off. The weekly chart also points to a bearish divergence, which adds credence to the bearish outlook. Investors can expect BTC to consolidate between the $52,062 to $45,160 levels. Invalidation of the correction thesis will occur on the flip of the $52,062 resistance into a support floor. Bitcoin price action over the past eight days signals a lack of volatility and reduced liquidity.
Also read:Ethereum price risks decline as increasing exchange supply raises chances of profit taking BTC/USD 4-hour chart The weekly chart for Bitcoin price also adds credence to this outlook which shows a higher high formation that does not conform with Relative Strength Index’s lower highs. This divergence is a bearish sign, which aligns well with the four-hour chart’s forecast.
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