Bitcoin Price Key Highlights Bitcoin price is on another day of declines, possibly setting its sights on longer-term support zones. Price has already closed below the 50 SMA to reflect a pickup in selling pressure. The next downside target might be the yearly lows or the bottom of the falling wedge on the daily chart. Bitcoin price appears to be setting its sights on the bottom of the falling wedge pattern visible on the daily time frame. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to confirm that the path of least resistance is to the downside or that the selloff is more likely to continue than to reverse. Bitcoin price has also slumped below the 50 SMA to signal a pickup in selling momentum. RSI has reached oversold conditions, though, so there may be some exhaustion among bears. Similarly stochastic is in the
The post Bitcoin (BTC) Price Watch: Aiming for Wedge Bottom? appeared first on Bankless Times.