Bitcoin Update: Getting Weaker And Weaker!!!

in bitcoin •  8 months ago

Bitcoin is trading at $9110, after closing yesterday at $9120. It has created a doji candle at the time of writing this article which indicates no one (buyers or sellers) in control right now.
A Falling trendline is creating hurdles for any attempt on upward direction.
By looking at above chart, one can easily notice a triangle like formation, in which Bitcoin is losing its strength as red candles are appearing on the daily chart for last many days and it may seem that Bitcoin is going to break triangle formation on the downside.

Momentum is also down as both moving averages are still moving negatively. But one encouraging sign for investors or buyers is appearing on volume side which is decreasing with a fallen price which suggests either buyer are missing or sellers are exhausting.

All in all, this script is trading weakly in on trade zone, breakout on either side of the triangle will open up next trading decision.

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I most agree with the analysis. It seems nobody has the upper hand right now. Everyone is waiting for some big news, or some major break of support/resistance.

I think we'll get our answer very soon!

You shared a great information here .... loved me very much .... and I'm waiting for the next important post with your bitcoin

Thank yo for this information.