Bitcoin (BTC) Price Watch: Still Waiting for Directional Clues
Bitcoin Price Key Highlights Bitcoin price is trending below a short-term descending trend line as it hovers at the long-term floor. Traders are likely waiting for the next catalysts to decide which direction the breakout could take. Technical indicators appear to be suggesting a slowdown in bullish momentum soon. Bitcoin price is still trending lower on the short-term time frame but buyers are defending the long-term floor.Technical Indicators Signals The 100 SMA is still above the longer-term 200 SMA but is gearing up for a bearish crossover to signal a pickup in selling momentum. In that case, price could have stronger odds of breaking below the $6,000 support zone and trending lower. Price is also moving below a short-term descending trend line, which is keeping near-term gains in check. A break past this level could still encounter some selling pressure at the dynamic inflection points on the
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