Unfortunately, both the price development and the indicator level point to a current weakness in Bitcoin BTCUSD, which suggests that there will be further price reductions before there may be further upward movement. The next price target is 25,000 points. If there is no strength in the Bitcoin then, the 21500 points can be considered as a further target.
To signal a resilient move into an uptrend, BTCUSD would need to bounce back above the orange moving average (in the chart above) currently around 28500 points.
To signal a resilient move into an uptrend, BTCUSD would need to bounce back above the orange moving average (in the chart above) currently around 28500 points.
