Bitcoin Bearish Trend Structure Confirmed by Key Moving Averages
The Bitcoin price is currently sitting at $63,109.97, which is below both its EMA50 and EMA200 moving averages.
This bearish trend structure suggests that any upward momentum may be short-lived.
According to price prediction models, the reduced order-book depth and liquidity gaps in the market are contributing to a potential downside move.
The AI industry's impact on trading algorithms is also being factored into these predictions, which could accelerate the next leg lower.