Bitcoin Price Chart Flashes a Warning Signal
(Bloomberg) -- A key trendline that had acted as a support for Bitcoin’s price appears to be turning into one that the virtual currency is now struggling to break above. The flip suggests a bearish immediate outlook unless prices can retake the barrier. The trendline originated at the lows reached in the pandemic market crash of March last year, and acted as a support as recently as May when the largest cryptocurrency fell to around $30,000.
©2021 Bloomberg L.P.