Bitcoin (BTC) has been trading above the 50 Exponential Moving Average (EMA) since September 28 in both the daily and 4-hour charts. In the former, an uptrend has been kept for over a month, while the BTC price has made daily lower highs in the last 30 days.
However, this monthly uptrend could now be in jeopardy as Bitcoin Futures struggle below the 50-day Moving Average. BTC is now fighting in the mentioned uptrend support zone, as noticed by the crypto trader expert Jim Wyckoff in an analysis posted on Kitco on October 11.
“October Bitcoin futures prices are weaker in early U.S. trading Wednesday. The bears have gained a bit of momentum at mid-week, as prices have penetrated on the downside, an uptrend line drawn on the daily bar chart. Bulls need to step up and show fresh power soon in order to restart the price uptrend.”
— Jim Wyckoff
October Bitcoin Futures daily price chart. Source: Kitco
Nevertheless, the Moving Average Convergence/Divergence (MACD) is still signaling a bu
We współpracy z: https://finbold.com/bitcoin-price-uptrend-could-be-in-trouble-heres-why/
