If one word could be used to describe how the majority of participants in the cryptocurrency ecosystem feel about the near-term outlook for (BTC) it would be 'undecided', as mixed signals from all manner of indicators have many traders waiting for a significant move in either direction before planning their next entry point.
A new report from Delphi Digital took a macro look at Bitcoin's current price action and found that a variety of factors, including low exchange volumes and the strengthening U.S. dollar have weighed heavily on the top cryptocurrency.
The short term trend bias is down with the pattern still hinting for a drop along 30167, testing previous swing lows. Sustained action under 28682 could fuel selloffs. Trade is testing resistance against 25880*, but a close over 35959 is necessary for a short term friendly turnaround.