BTC/USD daily - what indicators say?

18 thg 2, 2020

After 10 days of steady growth, bitcoin is now experiencing an anticipated correction, going down 10% from the latest peak at $10500. The EMA ribbon was able to hold the price from falling even further on a daily chart. At the moment of writing, the price is bouncing off the support level of an upward trending channel in which BTC got since the beginning of the year. However, we also see a bearish divergence on daily RSI, that might indicate breaking below the tunnel possibly to 38.20% Fibonacci Retracement level. MACD has flipped to the bearish side and Lucis SAR turned into resistance, which means bears are now dominating the market.