Bitcoin's six days in the doldrums has weakened the bull case in the short term, leaving a target of $3,700 for a resumed rally.
A long-term price indicator validates a growing consensus among investors that bitcoin is close to bottoming out.
Bitcoin's struggle to cross a key moving average lined up above $3,600 is a cause of concern for the bulls.
Traders may already be pricing in litecoin's upcoming block reward halving.
Bitcoin’s overnight pullback from three-week highs hit on Friday doesn’t mean the rally is over.
Bitcoin saw a high-volume bullish move Friday that may have opened the doors for a rally above $3,800.
Bitcoin, which continues to languish near seven-week lows, is being outshone by a surge in litecoin prices.
With bitcoin closing yesterday at the lowest level in 7.5 weeks, the gradual sell-off is showing no signs of abating.
Bitcoin price gains may be capped by a key moving average that has been acting as stiff resistance since mid-January.
The current calm in the bitcoin market is reminiscent of the lackluster trading witnessed in October.