Wednesday, July 14, 2021

Bitcoin is at risk of a further slide

Has Bitcoin bottomed out?

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Hi Crypto Academy Network,

Cryptocurrencies are in a bear phase with many having lost about 50% value from their all-time highs. The sentiment has turned negative and trading volumes have plunged more than 40% in June, compared to the May highs, according to data from Crypto Compare.

Bitcoin has been trading between the 20-day exponential moving average (EMA) and the horizontal support at £23,620 for the past few days. This tight range trading suggests a lack of urgency among traders to buy at the current levels.

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