Bitcoin

Note

<div class="coinjournal"> 
 <ul> 
  <li>Wolfe Research analyst is concerned on recent price action in Bitcoin.</li> 
  <li>Rob Ginsberg explained why in a research note on Thursday.</li> 
  <li>The world’s largest cryptocurrency printed a Death Cross this week.</li> 
 </ul> 
 <p>Bitcoin slipped below the key $25,000 support this week which a Wolfe Research analyst finds concerning.</p> 
 <h2 id="why-is-rob-ginsberg-worried-about-bitcoin">Why is Rob Ginsberg worried about Bitcoin</h2> 
 <p>The world’s largest cryptocurrency tested that level in June as well but ended up rebounding strongly from there.</p> 
 <p>But the fact that it broke below that strong support this time even if it did so only briefly is worrying because of what it says about the price <a rel="dofollow" title="momentum" href="https://thebittimes.com/tag/momentum.html">momentum</a>, as per Rob Ginsberg.</p> 
 <blockquote>
  <p>Longer term <a rel="dofollow" title="momentum" href="https://thebittimes.com/tag/momentum.html">momentum</a> is <a rel="dofollow" title="starting" href="https://thebittimes.com/tag/starting.html">starting</a> to <a rel="dofollow" title="break" href="https://thebittimes.com/tag/break.html">break</a> in bitcoin. This is often one of our more reliable warning signs … crypto landscape is growing every more concerning.</p>
 </blockquote> 
 <p>Ginsberg is currently bearish on the crypto market at large since Bitcoin is not the only one that challenged crucial levels in recent days.</p> 
 <h2 id="bitcoin-recently-made-a-death-cross">Bitcoin recently made a Death Cross</h2> 
 <p>Note that Bitcoin has also recently printed a “Death Cross” – its 20-day MA crossed below the 200-day MA that is broadly read as a sign of shifting sentiment and a possible downward trend in technical <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>.</p> 
 <p>If the $25,000 level does not hold, the next support in Bitcoin is at $20,000.</p> 
 <p>The Wolfe Research analyst also finds it concerning for the crypto space that its second-in-command – Ether is also currently trading at the key $1,600 level. His research note on Thursday reads:</p> 
 <blockquote>
  <p>As the retail investor comes under pressure and liquidity is drained, our concerns will only grow for crypto prices.</p>
 </blockquote> 
</div>
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/pro-says-longer-term-momentum-is-starting-to-break-in-bitcoin-tbt62783.html">https://thebittimes.com/pro-says-longer-term-momentum-is-starting-to-break-in-bitcoin-tbt62783.html</a></p>

Pro says ‘longer term momentum is starting to break in Bitcoin’

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