Some Bitcoin Traders Turn Cautiously Bearish — Why $9.5K Is a Problem
The price of (BTC) surged from $9,160 to $9,584 within the last 48 hours. But despite the 4.6% gain, some traders are turning short-term bearish on the top cryptocurrency.
According to several technical analysts, the market structure of Bitcoin remains slightly bearish. At higher time frames, $9,500 could still technically be a lower high. The term “lower high” is used when the recent peak of BTC is lower than previous highs.
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