This is a daily technical analysis of the Coindesk analyst and rented market technician Omkar Godbole.
Bitcoin
Bull Run has stagnated, with emerging technical signs that point to a possible price setback.
The leading cryptocurrency for market value quoted about $ 108,000 at the time of publication, investigating the bullish trend line, characterizing the strong increase of $ 75K to record maximum higher than $ 110K, as shown in the commercial view data.
There has been little upward action in the last 24 hours despite the reports that the Trump family company plans to raise $ 3b billion to buy cryptocurrencies such as Bitcoin.
A key impulse indicator called 30 -day change rate (ROC), which measures the percentage increase or decrease in Bitcoin’s price during the past month, has marked a “bearish divergence.”
The bearish pattern occurs when the price of an asset increases, but the impulse indicators such as the 30 -day change rate (ROC) do not confirm the same, hinting at the possible weakness and pricing.
Although Bitcoin remains inside a bullish channel, the 30 -day ROC is forming lower, pointing out a bassist divergence and weakening the impulse.
In addition, the histogram of divergence of the mobile average of the daily chart of the table (MACD), a widely used indicator to measure the resistance and changes in the trend, has become negative, indicating a bearish change at the time.
All this means that BTC could leave the upward channel, potentially reviewing the main psychological resistance turned into support for $ 100,000.
The broader perspective remains constructive, consisting of the recent golden cross of simple mobile averages (SMA) of 50 and 200 days.
