Bitcoin Network Triggers Alerts After BIP-110 Activation
A new development has triggered alerts in the Bitcoin network after a proposed change, known as BIP-110, was activated. This change was met with automatic triggers after reaching 28 blocks this period, according to @FarsideUK.
The activation of BIP-110 has brought up discussions around the proposal's details and its impact on the network rules. The Bitcoin price currently sits at $63,489.61 within a range defined by Bollinger Bands, with an upper resistance at $65,193.74 and lower support at $62,058.82.
Technical indicators show a bearish trend structure, with the EMA50 at $63,923.1 and EMA200 at $63,801.54 defining this pattern. However, the RSI is neutral at 48.48 and the MACD registers a bullish golden cross at -314.66.
This suggests that the price may test the 50-EMA support before potentially moving higher.