Bearish Indicator: Is Bitcoin Headed For Its Ninth Red Weekly Close?
This week, Bitcoin had made history when it recorded its eighth consecutive red weekly close. This first-of-its-kind streak had cemented the digital asset on one of the worst bearish trends that have ever been recorded. Now, even as the week runs towards another close, the cryptocurrency has not been able to make any considerable recovery, indicating that it may not be done with its bearish streak. Bitcoin Headed For A Ninth Red Close? With bitcoin still trading well below $30,000, it is no long shot to speculate that the digital asset may close out this week in the red too. If it does so,....
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There's little to smile about for Bitcoin bulls as the weekly candle nears completion at nearly the same place as two years ago. Bitcoin (BTC) headed for its lowest weekly close since 2020 on Sep. 25 as a week of macro turmoil took its toll.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader prepares for "important week" for BTCData from Cointelegraph Markets Pro and TradingView showed BTC/USD trading near $19,000 with hours left to run on the weekly candle.While only down $400 since the week began, the pair offered traders little optimism amid fears that the coming days....