#MarketRebound #BtcNewHolder Bitcoin is the world's most traded cryptocurrency and the largest by market cap. According to today's analysis, Bitcoin price appears to have decreased by 0.03% in the past 24 hours, and the current price is at $102,000 ¹.
There are a number of reasons for the short-term bearish outlook, including:
- Price action and RSI support breakouts.
- Regular bearish divergence. Multiple oscillators are now recording lower highs with lower highs ¹.
On the other hand, technical analysis shows that Bitcoin may be forming a major wave 5, which is part of the cyclical wave 3 in the higher timeframe. At the moment, analysts expect the price to complete the wave, and then it is expected to move higher, breaking the wave from wave 3 ¹.
#MarketRebount