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Analysis: Bitcoin Testing 50-Day Moving Average Frequently, Showing Signs of Exhaustion in its Uptrend
Summary: In response to recent market adjustments, some analysts warn that the summer slump will continue. FxPro's Chief Market Analyst Alex Kuptsikevich stated in a report on Thursday that the support obtained in the previous peak area indicates a temporary pause in the market to lock in profits. However, the market downturn is causing the most ...
In response to recent market adjustments, some analysts warn that the summer slump will continue. FxPro's Chief Market Analyst Alex Kuptsikevich stated in a report on Thursday that the support obtained in the previous peak area indicates a temporary pause in the market to lock in profits. However, the market downturn is causing the most active traders to hesitate, as they are now turning to very small projects. On the other hand, Bitcoin is once again approaching its 50-day moving average. The frequent testing of the mid-term trend signal line indicates that as the largest cryptocurrency, Bitcoin has entered a state of accumulation fatigue. (CoinDesk)
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Link: Analysis: Bitcoin Testing 50-Day Moving Average Frequently, Showing Signs of Exhaustion in its Uptrend [Copy]
