The last two weeks Bitcoin price dropped from an all time high from above $41,000 USD and it has been moving mostly horizontally (top chart) between $30,000 and $35,000 USD.
If we zoom out and analyse the price signal from a mid to long term perspective we can see that Bitcoin is still on an uptrend. In the bottom chart we can see the uptrend started on October as indicated by the crossover of the 21 day EMA above the 55 day EMA.
If we zoom out and analyse the price signal from a mid to long term perspective we can see that Bitcoin is still on an uptrend. In the bottom chart we can see the uptrend started on October as indicated by the crossover of the 21 day EMA above the 55 day EMA.