The post Bitcoin Stuck Within a Corrective Wave: Another Lower High Could Be on the Horizon! appeared first on Coinpedia Fintech News
Bitcoin bulls are losing strength as they are unable to sustain the rally above the gains. The market dynamics do not appear to be in their favour and as a result, the Bitcoin price is now feared to maintain a steep descending trend, regardless of the interim bullish spell. The latest rebound from levels around $57,000 to above $59,000 had circulated a bullish wave within the markets. However, from a larger perspective, the BTC price remains stuck within a bearish trend and may require more power to initiate a breakout.
During the previous day’s trade, the bulls demonstrated significant strength, which prevented the price from closing below $56,000. The large wick indicated the possibility of a bullish continuation, but the bearish start to the day squashed the likelihood of an ascending trend for a while. Now that the bearish action c
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