1. The initial bullish thesis for Bitcoin reaching $117,000 was based on Trump's potential crypto presidency and bullish chart patterns, but it fell short. 2. Despite Bitcoin reaching all-time highs above $109,000, recent trend failures and a drop below $80,000 necessitate reassessing portfolio positions for potential further downside. 3. Indicators like Standard Deviation channels and MACD suggest more room for Bitcoin to fall before reaching oversold territory, prompting a rating reduction.
Related Articles
- NuScale Power: The Bottom Isn't In Yet (Technical Analysis)4 months ago
- Costco Has A Lot Of Good Deals. Its Stock Is Not One Of Them (Technical Analysis)4 months ago
- ASML: Don't Catch A Falling Knife (Technical Analysis)9 months ago
- Occidental: Follow Buffett? Think Again (Technical Analysis)10 months ago
- Gold Vulnerable, Risks To Stay Long Now Outweigh The Reward (Technical Analysis)10 months ago
- Are We Still In A Bull Market?1 day ago
- Astera Labs: There Are Signs Of A Bottom (Technical Analysis) (Rating Upgrade)4 months ago
- Nvidia: Not Yet A Buy, Here's What To Wait For4 months ago
- Annaly Capital Has Broken Out (Technical Analysis)4 months ago
- Snowflake: A Major Reversal Is In The Cards (Technical Analysis, Rating Downgrade)4 months ago