“Rosy” Earnings Estimates Will Hurt Bitcoin, BTC Struggles At $20K
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Bitcoin continues to lose momentum on low timeframes, as bulls were unable to follow through on yesterday’s upside impulse. The cryptocurrency was rejected around the mid-area of its current levels and might be bound for a fresh re-test of local support. At the time of writing, Bitcoin price trades at $20,000 with a 1% loss and a 3% profit in the last 24 hours and 7 days, respectively. Despite its negative price performance, BTC remains relatively strong when compared with other cryptocurrencies in the top 10 by market cap. BTC’s price moving sideways on the 4-hour chart. Source: BTCUSDT Tradingview
Bitcoin price started a major decline from the $30,000 resistance against the US Dollar. The price is now trading below $24,000 and the 55 simple moving average (4-hours). There is a key bearish... [[ This is a content summary only. Visit my website for full links, other content, and more!…