What's new in Bitcoin? #BTC

Based on the 4-hour timeframe, here are some of the technical indicators I can see:

**Moving Averages:**

* The short-term moving averages (MA) are above the price, which is typically a bearish sign. The 7-day, 25-day, and 99-day MAs are all sloping downwards, indicating a downtrend.

* The price is currently below the 200-day MA, which is also a bearish sign.

**Relative Strength Index (RSI):**

* The RSI is currently at 47.22, which is considered to be neutral territory. However, the RSI has been trending downwards recently, which suggests that bearish momentum is increasing.

**Bollinger Bands:**

* The price is currently trading near the bottom of the Bollinger Bands, which suggests that there is selling pressure.

**MACD:**

* The MACD is below the signal line and is negative, which is a bearish sign.

**Overall, the technical indicators on the chart are suggesting that there is a downtrend in the market.** However, it is important to note that technical indicators are not foolproof and should not be used as the sole basis for making trading decisions. Other factors, such as fundamental analysis and market sentiment, should also be considered.

Here are some additional things to keep in mind:

* The 4-hour timeframe is a relatively short-term timeframe. The technical analysis may look different on a longer-term timeframe, such as the daily or weekly chart.

* The cryptocurrency market is very volatile. The price of Bitcoin can move quickly and significantly in both directions.

* It is important to have a stop-loss order in place to limit your losses if the price moves against you.

$BTC #Write2Earn

I hope this information is helpful. Please remember that I am not a financial advisor and this is not financial advice.