Well BTC is in a very precarious point based off of the technicals.
The weekly chart shows 4 red heikin ashi bars which depicts the downtrend.
The last bar is at the 20 week moving average which 'should' provide some support. (?)
Stochastics are under 25 with high selling volume, definitely a bearish tone.
The daily chart shows how close the price is to the last major low produced on Feb 6th of 5873 on the GDAX exchange.
The 20 dma has crossed over and under the 200 dma which is another bearish sign.
Stochastics have rolled over under 25, the selling and the bears seem to be in control.
Another daily chart with trend lines. If BTC should break lower in the next few hours/day, it may produce double bottom near the 5873 level. If it breaks below, look for either a quick reversal or lower prices.
The BTC mempool (unconfirmed transactions) are very low. The average transaction fee is .91
This is a yearly marketcap chart of BTC in orange which is 44% of the total crypto marketcap. All of the alt coins combined have a marketcap of 21% which is slowly on the rise over the last week.
Some of the latest BTC news headlines
