BTC has posted gains in February in five out of the last seven years. In case of a breakout, this could lead to a significant bullish move. Monthly chart, the above chart shows the 5- and 10-month MAs are trending south and BTC is trading well below these averages for the first time since 2015. Weekly chart, on the weekly chart, BTC has carved out a bearish-lower high above 4,000, reinforcing the negative view put forward by the downward sloping 10-week. As mentioned, BitFinexs open short positions slightly increased.70K eclipse attack bitcoin BTC of open positions, following the analysis above.
Bitcoin Price Analysis: Bullish Rejection Wipes Out Bitcoin s Weekend
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BTC is reporting losses in January for the fifth consecutive year. This analysis is for informational purposes and should not be considered investment advice. Bullish pressure seems to be waning as every attempted rally is quickly dispatched by strong bearish pressure. However, two signs could change the bigger picture for the near short-term. Be a turtle my friend Farhad Jafarov. Bitcoin image via CoinDesk archives; charts. Stoch is soon litecoin mining hardware asic flipping overbought again and we are starting a green wave and continuing. Results of the rallies are lopsided. It managed to establish a new, local high but was immediately rejected on high volume and very high spread. As of writing, BTC is changing hands at 3,414, representing a 7 percent drop from the monthly opening price of 3,693. Moreover, prices fell to six-week lows earlier this week.
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