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Price analysis of Bitcoin ($ 44k) and Ren ($ 0.5)

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Bitcoin analysis

After a + 45% rise in the past 30 days , bitcoin is only + 1.7% at the time of writing for the past 7 days. The rather static price action of the past week has provided the altcoins with an opportunity to run higher, but where will BTC go next time?

The following chart of D7R shows how steep BTC is on the daily time scale and that this asset has shown a loss of momentum over the past week.

There is currently higher resistance and multiple cluster orders at $ 47k and $ 50k that need to be shot down before the bulls can officially break $ 50k again with an upward continuation.

The volume of bitcoin seems a bit ‘exhausted and the asset might spend some’ time in the lower part of the range before resuming upward momentum or prior to further break down.

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If the bears can push the price below $ 44,500, the next stop on the 1D chart for the bulls is $ 41,499 as support resistance. This is a crucial level for bulls and bears moving forward and could be crucial in determining how the rest of 2021 will play out.

Bitcoin ‘s Fear and Greed Index is reading 73 to +1 from yesterday’s reading and still in the ‘Greed’ zone.

Bitcoin analysis

After a + 45% rise in the past 30 days , bitcoin is only + 1.7% at the time of writing for the past 7 days. The rather static price action of the past week has provided the altcoins with an opportunity to run higher, but where will BTC go next time?

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The following chart of D7R shows how steep BTC is on the daily time scale and that this asset has shown a loss of momentum over the past week.

There is currently higher resistance and multiple cluster orders at $ 47k and $ 50k that need to be shot down before the bulls can officially break $ 50k again with an upward continuation.

The volume of bitcoin seems a bit ‘exhausted and the asset might spend some’ time in the lower part of the range before resuming upward momentum or prior to further break down.

If the bears can push the price below $ 44,500, the next stop on the 1D chart for the bulls is $ 41,499 as support resistance. This is a crucial level for bulls and bears moving forward and could be crucial in determining how the rest of 2021 will play out.

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Bitcoin ‘s Fear and Greed Index is reading 73 to +1 from yesterday’s reading and still in the ‘Greed’ zone.

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