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Bitcoin (BTC) Remains at High Risk, As it Shows Bearish Signal

Bitcoin (BTC) Remains at High Risk, As it Shows Bearish Signal

Bitcoin (BTC) has been a bubble since its inception, and the question that many investors and analysts are asking in the last few weeks is: “Is it too late to get into Bitcoin (BTC) without losing money?”

Bitcoin has been on a roller coaster ride. After reaching $20K last year, the downtrend has been relentless. The last week has not been kind, as the cryptocurrency plummeted to a yearly low of $8,000.

Bitcoin (BTC) Remains at High Risk, As it Shows Bearish Signal Bitcoin (BTC) is still in bearish trend. For the time being, we do not see any good signal indicating bitcoin (BTC) price has a chance to rise in a short term. It is too early to expect the price of bitcoin (BTC) to reach the level of $3,500, as it is only the beginning of the year.. Read more about bitcoin long-term analysis and let us know what you think.

2 minutes ago | 4 weeks ago

Bitcoin (BTC) Remains at High Risk, As it Shows Bearish Signal News about Bitcoin

  • Bitcoin (BTC) is in jeopardy as it stays negative and shows signs of a decline.
  • BTC is now trading below the 200-day moving average, indicating a negative trend in the coming days.

Bitcoin (BTC) is in jeopardy as it stays negative and shows signs of a decline. However, in the crypto market, BTC is the first digital asset. 

BTC is a peer-to-peer internet currency, which means that all transactions take place between equal, independent network members without the need for any intermediaries to allow or facilitate them. More specifically, Bitcoin was developed, in Nakamoto’s words, to improve internet payments by allowing them to be transferred directly from one person to another. Without having to go via a bank or other financial institution.

Bitcoin (BTC) Is Showing A Bearish DownTrend

At the time of writing, the BTC price was $30,690, with a 24-hour trading volume of $17,444,002,679, according to CoinMarketCap. 

A descending channel is used to indicate a downward trend by connecting lower highs and lower lows with parallel trendlines. Short-term, descending channel formations are negative. A crypto market goes downward in a descending channel in this case, although they often create longer-term uptrends as continuation patterns.

Bitcoin (BTC) Remains at High Risk, As it Shows Bearish Signal200-day MA and ADX for BTC/USDT (Source: TradingView)

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The price of BTC is now trading below the 200-day moving average level. As a result, we may anticipate more negative indications in the days ahead. Furthermore, rather than identifying the direction of a trend, the ADX helps traders in evaluating its strength. The preceding chart shows the BTC ADX, which has a range of 25.12, indicating a strong trend.

Furthermore, the BTC ecosystem may have a bright future ahead of it in 2021, thanks to planned development and improvements. Overall, BTC is likely to reach $20k in the near future as it continues to fall. 

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Bitcoin (BTC), which has been described as a “Peak of Inflation,” has been in a tailspin ever since it hit an all-time high of $20,000 back in December 2017. The crypto currency’s value is rapidly approaching a $100 billion market cap while the total market capitalization of all cryptocurrencies (the total value of all cryptocurrencies in circulation) surpassed $200 billion for the first time ever back in mid-November. Despite the recent price declines, however, Bitcoin (BTC) hasn’t yet made any significant moves towards recovery. The digital currency has been trading sideways at approximately $6,600 for the past month and remains mired in a downward trend line that extends all the way back to May 2017. ~~. Read more about cryptocurrency analysis and let us know what you think.

Related Tags

This article broadly covered the following related topics:

  • price analysis on bitcoin
  • bitcoin long-term analysis
  • why did all cryptocurrencies drop today
  • bitcoin analysis 2020
  • bitcoin trading technical analysis
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