The BTC movement throughout the week of April 12 to April 18 was eventful. It reached an all-time high price of $64,854 on April 14.
However, it began to decrease shortly afterward, with the rate of decrease accelerating on April 18. BTC reached a low of $50,931 the same day. Currently, BTC has bounced back and is trading near $57,000.
Despite the ongoing recovery, technical indicators are bearish. The MACD has given a bearish reversal signal and the RSI has dropped below 70. The Stochastic oscillator is decreasing but has not yet made a bearish cross.
When combined with the bearish candlestick, the long-term trend is showing significant weakness.
APRIL 18, 2021
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