Things aren’t great, but could they get worse? Analyst CryptoCapo_ is seeing signals that Bitcoin is headed for another dip. (Reporting via WilliamSuberg)
The pair succeeded in maintaining the
, something on-chain analytics resource Material Indicators had hoped would endure as a positive sign.“The retest of technical resistance at the 50-Day MA was rejected. Now I want to see a retest of support at the 2017 Top. Bulls may be losing momentum, but placed a buy wall at $20k to hold price up.”
Material Indicators was analyzing a chart of the Binance BTC/USD order book showing investor behavior involving different-sized transactions. It referred to its 50-day moving average , which at $20,170 had still not flipped to decisive support on the day.Popular trader Il Capo of Crypto, meanwhile, continued an extant thesis involving a trip to $21,000 before a steeper more enduring comedown.“20500-21000 hasn’t been touched and there’s no ltf distribution. Expecting the last leg up soon. Then ltf bearish signs, and reversal to new lows .”Signs of good times ending for U.S.
Turning to the United States dollar index , a key macro trigger for crypto markets, there was some relief on the horizon.
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