Bitcoin’s wide price range to continue, no longer a ‘long only’ bet — Analyst

Bitcoin could be heading into another extended consolidation phase, with short-term indicators suggesting a more bearish outlook, contrary to the broader crypto community’s view, according to the head of research at 10x Research. While many crypto analysts predict new Bitcoin (BTC) all-time highs by June, Markus Thielen said in an April 14 markets report that he is skeptical, pointing out that onchain data signals “more of a bear market environment than a bullish one. ”Short-term indicators signal potential market topThielen said the Bitcoin stochastic oscillator — which compares a particular closing price to a range of prices over a specific period to determine momentum — shows patterns “more typical of a market top or late-cycle phase rather than the early stages of a new bull run. ”Bitcoin is trading at $83,810 at the time of publication source: https://cointelegraph.com/news/bitcoin-price-range-performance-crypto-analyst-forecast?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound