BTC Market Trend Analysis
Looking at the chart, we can see that the price is currently below the moving averages (SMA). Specifically, the SMA20 line has crossed both the SMA50 and SMA100 lines, and is moving downwards, significantly diverging from both SMA50 and SMA100. This clearly indicates that the market is undergoing a pronounced downward trend.
Furthermore, upon examining the Relative Strength Index (RSI), we also observe that it is below the average level. This indicates the strength of selling pressure and suggests signs of impending price decline.
Furthermore, upon examining the Relative Strength Index (RSI), we also observe that it is below the average level. This indicates the strength of selling pressure and suggests signs of impending price decline.
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