BTC charge drifted slightly upwards, then plunged and closed underneath the low of that candle on Friday, as shown on the following every day chart.
The momentum and charge-of-exchange indicators did not verify the current better rate high, but are both in an accelerating diverging downtrend, and are beneath their zero levels.
This week closed out on a bearish engulfing candle formation at the weekly time frame, as proven beneath.
Both the momentum and charge-of-change signs are under their 0 stages and were drifting lower over the past few weeks.
Day by day and weekly rate action on Bitcoin displays systematic, measured promoting since it made its record excessive in mid-December 2017, and it has failed to stabilize for the reason that then. There's no indication this is approximately to exchange any time soon.
Alternatively, those charts paint a photo of a quite risky cryptocurrency which skilled an preliminary frenzied parabolic rise, accompanied by high frothy volatility, and which has but to discover its truthful value or prove that it has any at all.
