Bitcoin/U.S. dollar daily chart along with RSI metric Bitcoin’s 10-day exponential moving average crossed below its 20-day EMA. Measuring the RSI between the negative candle on Sept. 13 to the negative candle on Sept. 21 implies a bearish confirmation, highlighted by increased volume into the 18% price decline.
“Candle” refers to the representation of an asset’s open, high, low and closing price on a given day. The RSI is a technical indicator that measures price momentum. An increase in negative trading volume following a greater than 10% decrease in price implies that bearish sentiment of an asset remains.
In a bearish confirmation, both price and RSI slope downward in tandem. Should the RSI slope begin to flatten as prices decline, that is an indication that the downturn is weakening. There are early signs this is occurring, as Thursday’s RSI is up slightly. Its overall value of 40, however, implies that BTC is fairly priced at the moment.show that potential room to the downside still exists. The percentage of unique BTC averages in profit has fallen to 52.05%, per blockchain analytics firm Glassnode.
The metric reached a 2022 peak of 82% in March, when BTC was trading near $48,000. The lowest the metric has reached in recent history was 41% in March 2020, when BTC was trading at $5,000. Still, at the current 52% level, it's beginning to approach the sub-50% range, where BTC would be considered oversold.held by addresses with a balance between 1,000 and 10,000 coins has dropped 8% since this February, and 12% since its peak in February 2021.
GWilliamsJr_CMT _jocelynyang_ Nope, seems like it's still headed for Valentine's Day;
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