BITCOIN IS SHOWING SIGNS OF WEAKNESS.
Bitcoin has been falling for the last five days, and the daily chart is looking weak.
Price has dropped below the daily MA 50 near $81,800, and it needs to reclaim that level to keep the bullish case strong.
For now, $84,800 and $87,500 are the resistance levels to watch, and the support is around $75,000.
This week’s Israel election, FOMC decision, big tech earnings, U.S. PCE, GDP and midterm elections could all drive volatility.
If $BTC gets back above the daily MA 50, things could start looking better. A move above $85,000 would be another positive sign.
Bitcoin has been falling for the last five days, and the daily chart is looking weak.
Price has dropped below the daily MA 50 near $81,800, and it needs to reclaim that level to keep the bullish case strong.
For now, $84,800 and $87,500 are the resistance levels to watch, and the support is around $75,000.
This week’s Israel election, FOMC decision, big tech earnings, U.S. PCE, GDP and midterm elections could all drive volatility.
If $BTC gets back above the daily MA 50, things could start looking better. A move above $85,000 would be another positive sign.
