In the four-hour timeframe, Bitcoin is still showing a bearish trend, with the 50-day moving average trending downward, and the trend is still ranging.
Moving Average Analysis
In the four-hour timeframe, Bitcoin is still showing a bearish trend, with the 50-day moving average trending downward. The 200-day moving average has also been on a downward slope since July 6, 2024, indicating a weak trend. Given the bearish signals from both the 50-day and 200-day moving averages in this timeframe, a bearish Bitcoin price prediction is warranted. Therefore, selling trade at this point is not feasible, and buying trade, especially a limit order, is not practicable. Hence, it is best to wait.
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Bitcoin 11 July, 2024