Bitcoin (BTC) had a negative past week regarding its price action. With a retrace starting on October 7, after a previous consolidation week that followed an uptrend since September 11. In the past seven days, BTC lost around 4% of its market value, until the time of publication.
Nevertheless, analysts have pointed toward technical analysis (TA), crypto market psychology, and Bitcoin fundamentals in anticipation of what could be a positive performance in the following weeks. Notably, Ferrari announced on October 13 that it will start accepting BTC and other cryptocurrencies as payments in the U.S.
Particularly, as a TA indicator, the 4-hour Relative Strength Index (RSI) shows an oversold state for Bitcoin, which could signal a ‘buy’ opportunity for the leading cryptocurrency, as reported by Finbold mid-week.
In this same report, CrypNuevo had predicted BTC at sub $27,000 before it could chase higher grounds, due to massive liquidity pools that are usually targeted by market makers,
We współpracy z: https://finbold.com/plan-trading-bitcoin-next-week-heres-what-you-should-know/
