RATE Group | Bitcoin (BTC) Price Watch: Bears Refusing to Let Up
46724
post-template-default,single,single-post,postid-46724,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin (BTC) Price Watch: Bears Refusing to Let Up

25 Oct Bitcoin (BTC) Price Watch: Bears Refusing to Let Up

Posted at 08:37h in Bitcoin News by

[ad_1]

Bitcoin Price Key Highlights

  • Bitcoin price recently tumbled below a short-term rising trend line but might be due for a pullback.
  • Applying the Fib retracement tool on the latest swing high and low shows the levels where more sellers might be waiting.
  • However, technical indicators are giving mixed signals on whether the slide could resume or not.

Bitcoin price fell through a short-term support zone and might be due for a pullback before heading further south.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, the selloff is more likely to resume than to reverse from here.

Sellers might be waiting around the 61.8% Fib or $6,564 level which lines up with the broken rising trend line support. This is also close to the 100 SMA dynamic inflection point, which might add another layer of resistance.

Stochastic is pulling up without even hitting oversold territory, which suggests that buyers are…

[ad_2]

Source link

Tags:
, , , , ,