The post Bitcoin Shows Signs of Bearish Sentiment : Here’s What Next For BTC Price appeared first on Coinpedia Fintech News
In a recent market analysis, highly respected crypto trader Tone Vays cautions that Bitcoin (BTC) remains in a bearish position, despite its rebound last week. Vays, known for his expertise in the cryptocurrency realm, believes that Bitcoin’s recent surge is insufficient to ignite a sustained upward trend for digital assets.
Examining the daily chart, Vays points out in his recent YouTube video that Bitcoin’s encounter with a crucial moving average as resistance signals a bearish outlook. Although the rally appears encouraging, Vays emphasizes that it does not translate into a bullish long-term chart.
“Yes, it’s a nice rally, but this nice rally is not amounting to a bullish-looking weekly chart. It is just not very bullish looking… The price still looks in a bearish posture even with this rally,” he asserts.
According to Vays, Bitcoin must break man
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