Bitcoin Price Loses Momentum

Bitcoin Price Loses Momentum

Bitcoin price has held above yesterday’s corrective low. Little upside progress shows the market is now taking a break and perhaps reconsidering the trend. The bitcoin price daily charts show an advance that struck out in a straight line from a weak base. Bitcoin price has lost the steady momentum of the past two weeks. It may return after the market takes a breather. We wait for price to either resume advance, or for a sideways correction to play out. A protracted sideways consolidation could end in a reversion to support at $400.

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