Sign up for our newsletters
Please consider using a different web browser for better experience.
Bitcoin’s ‘death cross’ could increase selling pressure into the weekend.
BTC buyers struggled near $40K resistance this week. Upside appears to be limited.
Bitcoin is under pressure as Fed taper concerns linger, although some expect crypto to remain resilient.
Upside momentum has been weak, which means the corrective phase from May is not yet complete.
The U.S. central bank also increased estimates of coming inflation to 3% from the 2.2% projection in March, largely due to transitory factors.
BTC faces slowing momentum as buyers struggle at resistance.
Some analysts are optimistic while others prefer to see stronger signs of upside momentum before calling a bottom.
However, the short-term trend is improving as the daily chart advances from oversold levels.
Bitcoin tests $40K following positive comments from Tesla's CEO Elon Musk and hedge fund manager Paul Tudor Jones.