Technical Analysis – BTCUSD drops to 6-week low as halving looms
Posted on April 18, 2024 at 10:03 am GMTBTCUSD falls temporarily below 60,000 ahead of halving Momentum indicators point to intensifying downside pressures BTCUSD (Bitcoin) experienced a strong pullback following the formation of a triple top pattern, sliding below its 50-day simple moving average (SMA). Meanwhile, the price dropped to a fresh six-week low a tad beneath the 60,000 psychological mark, just a couple of days ahead of the crucial halving event. Given that the momentum indicators are heavily tilted to the downside, Bitcoin could revisit its March bottom of 59,313. In case [..]