Bitcoin Price Chart Flashes a Warning Signal

A pile of coins representing Bitcoin cryptocurrency sit grouped together in the U.K. (Photographer: Chris Ratcliffe/Bloomberg)

Bitcoin Price Chart Flashes a Warning Signal

Bitcoin Price Chart Flashes a Warning Signal

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.

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