Bitcoin Is Exhibiting Both Bullish And Bearish Signals – Which Side Wins? Analyst Tells

By Bernice Nyamburaabout 1 month ago

Barely a day after bitcoin reclaimed $60k but still failed to maintain it, to trade lower around $59,847 at press time, analysts are now expressing different views about the top digital assets next move.

At this point, bitcoins charts reveal both bullish and bearish signals, based on its past history, according to crypto technician ‘Byzantine General’.

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BTCUSD Chart By TradingView

Bearish Scenarios for BTC

When the majority of its market cap is held by short-term rather than long-term hodlers, bitcoin reaches a cycle top.

Were currently making such a shift, but its not yet at previous levels of extremity.

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