Technical Analysis – BTCUSD rangebound but downside risks remain
Posted on June 10, 2022 at 7:53 am GMTBTCUSD has been trading within a tight range during the past month, unable to adopt a clear direction. However, the descending 50- and 200-day simple moving averages (SMAs) are painting a gloomy technical picture for the cryptocurrency. The short-term oscillators also indicate a cautiously bearish near-term bias. Specifically, the RSI is dipping beneath its 50-neutral threshold, while the MACD histogram has crossed above its red signal line but remains in the negative territory. Should selling interest intensify, 29,200 could act as [..]