Bitcoin Price Prediction: BTC Below $29k – Can Bulls Save The Day?
Bitcoin Price Reclaims $29k Support – What’s Next? Bitcoin price has reclaimed support at $29,000 but there is no guarantee an uptrend will carry on, especially with the resistance anticipated at the 50-day Exponential Moving Average (EMA) (red) holding at $29,362. advertisement Based on the Moving Average Convergence Divergence (MACD) indicator’s outlook, the path with the least resistance is generally to the upside. Shorts traders look out for bearish crosses, characterized by the MACD line in blue crossing below the signal line in red. BTC/USD daily chart | Tradingview It might be pointless to hope for an immediate recovery from Bitcoin price ranging momentum between the area around $29,000 and $30,000. Adding credence to the bearish outlook is the Relative Strength Index (RSI), which is dropping fast in the neutral region toward the oversold region. If declines are sustained below $29,000 in the coming sessions, traders may want ...