Bitcoin price action is at an impasse. Bulls and bears are divided as to what happens next, leading to months of consolidation. It could all come down to the next few days, according to the most important BTCUSD price chart you’ll see this week.
The chart shows just how critical the stalemate in crypto markets is currently, and why this week could be the end of the indecision.
Bitcoin Momentum Takes A Pause, But What’s Next?
In technical analysis, the velocity of price increases or decreases can be measured by momentum. Various tools exist that get the job done, including the Moving Average Convergence Divergence indicator. The tool is designed to give overbought and oversold signals, plus buy and sell signals based on crossovers of the signal and MACD lines. Passing through the zero line is also an indication of momentum strengthening, as well as the underlying trend.
It is for all these reasons and more that the chart below is so important. The chart consists of BTCUSD on the one
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