The negative divergence on the relative strength index suggests that the momentum has weakened. If the price breaks and sustains below the 20-day EMA, the traders are likely to wait for the BTC/USD pair to find support at lower levels, before buying.
On a drop below the 20-day EMA, the decline can extend to the $11,100–10,900 support zone.
Contrary to this assumption, if the pair rebounds off the 20-day EMA, the bulls will make another attempt to push the price above the $12,113.50–$12,460 resistance zone. If they succeed, the uptrend is likely to resume.
On a drop below the 20-day EMA, the decline can extend to the $11,100–10,900 support zone.
Contrary to this assumption, if the pair rebounds off the 20-day EMA, the bulls will make another attempt to push the price above the $12,113.50–$12,460 resistance zone. If they succeed, the uptrend is likely to resume.
