Ali tweeted yesterday that BTC needs to close a weekly candle above $31.7K to avoid further losses.
At press time, BTC was trading at $26,063.76 after it gained 0.83% over the past 24 hours.
Short-term technical indicators suggest BTC could rise to above $26,915 in the coming few days.
The cryptocurrency trader and analyst Ali revealed in a tweet yesterday that Bitcoin (BTC) needs to close a weekly candle above $31,700 to avoid further downfall. In the post, he mentioned that the Parabolic SAR on the market leader’s weekly chart is above the cryptocurrency’s price, which is a potentially bearish signal indicating a downtrend.
From a price perspective, BTC was changing hands at $26,063.76 at press time according to CoinMarketCap. This was after the cryptocurrency achieved a 0.83% gain over the past 24 hours. Despite the positive daily performance, BTC�…