BTC

As a result of analyzing the BTC price data over the past 60 days, several notable indicators and patterns have been observed in technical analysis. First, looking at the Moving Average analysis, the 50-day moving average is focusing below the 200-day moving average, indicating a sell-off. This signals that short-term prices are below long-term prices, raising doubts about the sustainability of a bullish market.

Second, the Relative Strength Index (RSI) recently rebounded near a low of 30. When the RSI is below 30, it is considered oversold, but unless a rebound signal appears, the current weakness is unlikely to resolve over time. In the gradient layout, a continuous price decline over several days has been observed, showing a confusing volatility in prices.

Third, through the analysis of Bollinger Bands, it appears that the price has formed below the lower band, suggesting that another downtrend may occur. Therefore, the current market atmosphere reaches the conclusion that it would be safer to sell BTC assets held, as it is a point where the risk of price decline is acceptable.

Recently, the BTC price has been affected by various external factors. Firstly, global market uncertainty and fears of interest rate hikes have particularly worsened the investment sentiment towards risk assets like BTC. Central banks are raising interest rates to curb inflation, causing funds to move from risk assets to safe assets.

Additionally, there have been reports that several countries are tightening regulations on cryptocurrencies. This is causing anxiety among investors, and trading activity is declining, especially. For example, the SEC in the United States is conducting investigations into several cryptocurrency projects, impacting the credibility of the market.

These external variables are very important in making investment decisions, and the current downtrend in BTC prices can be interpreted as a complex result of these various external factors. If the market stabilizes and signs of improvement in external conditions appear, there may be opportunities to buy again in the future, but for now, selling seems to be the preferable strategy.