Technical Analysis – BTCUSD pauses selloff and battles with 40,000
Posted on January 25, 2024 at 1:06 pm GMTBTCUSD manages to halt its short-term decline But its rebound encounters resistance around 40,000 Momentum indicators still deep in their negative zones BTCUSD (Bitcoin) has experienced a strong decline from its recent two-year peak of 49,051, dropping to as low as 38,460. Despite the price’s attempt for recovery, the short-term oscillators are still heavily tilted to the downside, painting a rather dire technical picture. If the price manages to extend its rebound, the inside swing low of 41,285 could prevent initial advances. [..]