Baxia Markets
June 22, 2021

Bitcoin lost more than 19.5% in 8 sessions

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The cryptocurrency has been on a downtrend for 6 out of the last eight trading sessions, losing more than 19.5%.

Bitcoin came short of entering an oversold status and the Relative Strength Index lowest level was only 34% during the previous session, the pair’s currents RSI is 38%, and the price is up 3.07%

The Bollinger bands are opening up, and this will bring higher volatility. Price trades slightly above the lower band, suggesting that the price is relatively low.


BTC June 21st 2021

The short and long-term moving averages are very close to crossing but still indicate that the general trend is downwards.

The price found support at the $31,133 level and reached its lowest in 14 sessions. Our parabolic SAR indicator suggests that the downtrend will continue; however, we could see a short-term pullback to bring the price up a bit before resuming its downtrend.


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cryptocurrency, trading conditions, technical analysis, trading indicator

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