Actual-time evaluation of the chart of bitcoin reveals that, as of early-Could 2024, there was a lack of intermediate-term momentum per momentum indicators just like the MACD (Transferring-Common-Convergence-Divergence), which has a bearish crossover. The lack of momentum means that bitcoin is in a corrective section that ought to persist for not less than one other few weeks. Draw back threat may be framed by the following help on the chart, close to $51,500, which is outlined by a 38.2% Fibonacci retracement of the uptrend off the 2022 low and bolstered by a rising 200-day shifting common.
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