Baxia Markets
March 08, 2022

Bitcoin is down 16% in 6 sessions

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The cryptocurrency continues struggling and could find support close to the $35,000 mark. The short and long-term moving averages crossed indicating that the downwards trend would continue, the price trades below both lines.


The Bollinger bands are wide, but the upper band is closing up, which is often a signal of a downtrend, the price is getting closer to the lower band, which could act as a strong support level in the upcoming sessions.


BTC Mar 7th 2022


The relative strength index is at 41% which will allow the price to continue falling a bit more, once it gets to 30% we could see the price bounce. Our parabolic SAR indicator strengthens the short signals for Bitcoin.


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