Bitcoin’s slow and steady rise loses momentum; headwinds to push BTC to $9,060
1 min readFeb 25, 2020
Bitcoin has been on a slow yet steady rise since its 11th birthday (3rd January 2020). This rise fits perfectly into a bearish up channel and as the name suggests, the breakout of this will be bearish. Determining the extent of drop plays a crucial role if trading.
At the time of writing, 1 BTC was worth $9,796 and dominance back to 62.8%. The price had a 1.34% surge over the week and a minuscule 0.05% in the past hour.
- Two bearish patterns overlook BTC — bearish up channel and descending triangle.
- Collapsing RSI value might either make it or break it for Bitcoin depending on how deep it digs.
- Important levels to look out for include, $9,545, 9,350. If these levels get flooded, then BTC is headed straight to $9,060.
