Bitcoin’s recent performance has raised concerns among investors as the cryptocurrency struggles to maintain its upward trajectory. The possibility of profit-taking by miners signaling a $128 million move adds to the uncertainty. Technical analysis tools such as Bollinger Bands suggest potential abrupt market moves. The support level at $30,000 is crucial for the revival of the uptrend. Bitcoin’s Average Directional Index indicates a potential downside trend for the next 10 days. Corrections and consolidations are common before Bitcoin’s uptrends. Positive indicators include positive funding rates and movement in Bitcoin mining stocks. Currently, BTC is trading slightly up at $30,500.
AI Sentiment: Negative
