Ready for $19,000? It could happen if BTC sees a 'breakdown' from current levels, warns venturefounder.
"New Bitcoin higher low, and the bearish RSI divergence continues," he"With a hot CPI number coming and FOMC meeting later this month, March could be a bad month for risk-on assets including BTC. A breakdown from this level would target $19k BTC."
An accompanying chart laid out the potential path to below $20,000 and also highlighted the bearish divergence in Bitcoin's relative strength index , formed when the metric's trajectory runs in the opposite direction to price — downward versus upward, respectively.CPI prints tend to spark short-term volatility across risk assets, this nonethelessContinuing, popular trader Crypto Ed likewise voiced belief in $19,000 marking the next local BTC price floor.
"Biggest bulltrap ever, but the bottom is in. Enjoy the coming months and don't get fooled on the lower TF's!" part of Twitter commentary read.
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