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Bitcoin Price Outlook Worsens After Drop to Five-Day Lows

Bitcoin Price Outlook Worsens After Drop to Five-Day Lows – CoinDesk

Bitcoin’s (BTC) drop to five-day lows on Monday has likely emboldened the bears, technical studies indicate. The leading cryptocurrency traded in a sideways manner over the weekend, neutralizing the immediate bullish outlook. However, the consolidation was expected to end with an upside break, as the short-term moving averages (MAs) turned bullish on Saturday, adding credence to positive relative strength index divergence.

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