Blue lines- bearish
RSI divergence Green line- support trend line
Bitcoin is trading around $22,700. Bitcoin made a move lower towards $22,300 earlier breaking below the short-term support trend line and providing a new sign of weakness. Bitcoin has now started a new sequence of lower lows and lower highs. The bearish RSI warning now is combined with a lower low and lower high. Bitcoin is vulnerable to a move lower towards $20,000 and maybe lower. Resistance is at $23,450. As long as price is below this level, short-term trend remains bearish.
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Relevance up to 14:00 2023-02-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
