Tron saw double-digit gains Tuesday after announcing it acquired BitTorrent for $140 million.
Despite the bearish chart setup, bitcoin rose to a six-day high on Monday, putting a corrective rally to $7,000 back on the map
Bitcoin will likely drop below $6,000 this week, with bearish indicators still littering short- and long-term charts.
Bitcoin is still in recovery mode, but the bulls must keep prices above key support to maintain momentum.
Bitcoin has made a 6 percent recovery from the 90-day low hit yesterday, but what happens next?
Litecoin hit fresh 2018 lows in the Asian hours, but could be in for corrective rally courtesy of oversold conditions.
Short-term oversold conditions may give the bulls a brief reprieve, but the bitcoin market is still generally bearish.
A corrective rally may lift bitcoin over $7,000, but holding on to gains won’t be easy, the technical charts suggest.
Bitcoin’s drop below $7,000 signals a resumption of the sell-off from the record highs in December, according to technical studies.
Bitcoin could be in for a big move as the daily trading range tightens, but will the bulls or the bears gain the upper hand?