Crypto news🚨Bitcoin enters the bear market after 40% crash since record high
Cryptocurrencies have been falling far short of investors’ expectations since the beginning of the year, and sellers currently appear to hold an almost persistent advantage over the demand side. Looking at Bitcoin’s chart, the technical picture does not look encouraging for investors—especially short-term ones.
Bitcoin (D1 timeframe)
It is true that the RSI indicator points to an almost record oversold level, with RSI near 27, but the MACD shows clear weakness. Moreover, when we look at Bitcoin’s previous price reactions, as well as the 2020–2021 bull market, we see striking similarities. There is a chance that the ongoing downward move will continue and push BTC down toward key on-chain support levels,…
