Bitcoin price at the edge of bullishness
Bitcoin price has been hovering around roughly $23,000 for the last two weeks. At first, it
attempted to breach the $22,800.
Investors can choose to be optimistic and assume the bull rally will continue, but the technicals are hinting otherwise. The Relative Strength Index (RSI) shows that the momentum has been waning since January 14.
While the bearish outlook makes logical sense, investors need to be aware of the possibility of a sudden spike in buying pressure. The ongoing rally was a surprise rally that caught many bears off-guard. Hence, Bitcoin price might take another jab at $25,000. A flip of this psychological level into a support floor will invalidate the bearish thesis. Such a move could trigger sidelined buyers to pour in, kick-starting a rally to the next psychological level at $30,000.
We told you first,
Leaked by
@CryptoSnitchChannelMostrar más ...