Technical Analysis – BTCUSD steady near 50-SMA; bias negative
Posted on July 26, 2023 at 1:31 pm GMTBTCUSD (Bitcoin) switched to silent mode after Monday’s plunge to a one-month low of 28,842, with the price trading almost flat over the past two days. The latest pullback followed a rejection near the 30,000 psychological mark and the 20-day simple moving average (SMA) but the 50-day SMA managed to minimize losses around 29,136. Nevertheless, the technical indicators keep favoring the bears at the moment, promoting a continuation lower as the RSI is extending its downtrend below its 50 neutral mark [..]