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What direction do Bitcoin price indicators point in the long term?
Crypto News - The price of Bitcoin is still moving within a significant support area. More liquidity is forming above the price of Bitcoin, and we need to pay attention to this situation. Meanwhile, the price of Ethereum is currently struggling around an important support area.
The Bitcoin price has not changed at least in the last few days. Therefore, technically, we can say that we are still moving within a large bull market. When we look at the weekly Bitcoin chart, we observe a lack of momentum. At the same time, there is not much upward momentum and it generally indicates short-term movements.
Crypto World, a crypto analyst, says that the current chart view is what we saw a year ago. He says that we are seeing a rising trend in the weekly Bitcoin MCD indicator, similar to what we saw in October 2024, around October 2023. Then he says that we witnessed a significant upward trend in the price of Bitcoin from the beginning of December to the middle of December for the next few months.
He expresses that we are slowing down due to all those upward price movements, just like we did from the beginning to the middle of December 2023 to the beginning to the middle of December 2024. He also adds that we encountered a momentum loss in the MACD indicator, which we frequently emphasize within this range. This loss in upward momentum continued in the following period.
Bitcoin price struggled with a momentum loss until the end of January and finally started gaining some momentum on the first day of February. Analysts are predicting that something needs to change at some point in the next few weeks.
"At some point in the next few days or weeks, we may start to regain bullish momentum soon. Based on the signals currently coming in, something is likely to change."
The information in the text is purely for informational purposes and does not constitute investment advice. The author and kriptoparahaber.com are not responsible for any profits or losses resulting from your investments. Ultimately, investment relies on various factors such as knowledge, experience, research, and personal decisions.
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