FX Guys

Bitcoin ($BTC) Price Trends Downward: Will the Decline Persist?

Crypto Daily – Over the last five days the ($BTC) price has generally trended downward. Currently holding just above $95,000, will this decline continue, or could we see a big recovery going into the end of this year?

A perfectly normal $BTC trajectory

The king of cryptocurrencies has been very much in sideways and downward mode over the last few days. In fact, the drop in price that took place over last Thursday and Friday took $BTC down to a price of $92,700, which was first seen more than a month ago.

Since that time, $BTC has followed an upward tilting channel, dropping out of it during the aforementioned price dip. Given that ascending channels generally do break to the downside, Bitcoin’s trajectory over these last few weeks has been perfectly normal.

Now that a bearish weekend is behind us, and the short term momentum indicators have reset, it could be that some green candles start to reverse this last downward trend.

Will MicroStrategy announce…
Read More