Bitcoin prices have been both hot and cold. The freeze of September 20 was countered by the warmth of September 22, which offered a relief rally for permabulls. When writing, BTC prices are pretty much constant, oscillating within a tight range above January 2021 highs. Waving Bitcoin Price Action The bounce from the expected reaction zone was a sigh for traders who, after September 20 dip, expected the worst. Admittedly, even with these losses, the uptrend is still shaky from an Effort-versus-Results perspective. For example, in the weekly chart, there is a double bar bearish reversal pattern. At the same time, in the daily chart, BTC prices are still trending below the 20-day moving average. Besides, despite the recovery of September 22, the bar has lighter trading volumes. From volumes analysis, this is week and doesn’t bode well for chartists who still sense weakness in the uptrend, potentially more room for even more losses in the days ahead. Bitcoin On-Chain Indicators Interesti...
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