Editor's PiCK
[Analysis] "Bitcoin's Momentum Indicator Deteriorates... $100,000 Level at Risk"
Uk Jin
Summary
- It was reported that Bitcoin showed bearish divergence in the 30-day ROC, indicating that momentum is deteriorating.
- The MACD histogram turning negative suggests that Bitcoin might test the $100,000 support level.
- The occurrence of a golden cross in the 50-day and 200-day moving averages is evaluated as a positive signal.
There is an opinion that Bitcoin (BTC) could fall below the $100,000 level.
On the 27th (Korean time), the cryptocurrency specialist media CoinDesk reported that "Bitcoin showed bearish divergence in the 30-day ROC (Rate of Change)," and "momentum is deteriorating."
It also added, "The MACD (Moving Average Convergence Divergence) histogram turning negative is also evidence of momentum deterioration," and "Bitcoin could potentially test the $100,000 support level."
However, there are also positive indicators. CoinDesk explained, "A golden cross has occurred in the recent 50-day and 200-day simple moving averages (SMA), which is positive."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
![[Market] Bitcoin breaks below $70,000… Korea premium at 0.31%](https://media.bloomingbit.io/PROD/news/74018332-717e-4495-9965-328fe6f56cb4.webp?w=250)
