Quick Technical Analysis: Bitcoin Consolidates below Moving Averages in Morning Trading Session.
The chart representing the values associated with the Bitcoin, as per the data presented in the Morning Indicators, indicates the presence of a horizontal trend in the Bitcoin’s movement while experiencing slightly bearish moments. As per the chart presented, it is indicated that the values represented in the Mark Price, currently valued in relation to $87,665.63, show that the trading is occurring in relation to values less in comparison to the values represented in the larger levels of the Moving Average data, as indicated in the MA7, MA14, and the MA28
We highlight positive observations: still, it supports it, which refers to the level of its trading in the chart: $86,000. Besides, since it is accompanied by Low Volume (Clume), in contrast to its similar values (MA5, MA10), it is consistent with the fact that it is progressing in low liquidity, similar to its level in the morning in Asia.
**Near-term Outlook:**
Breaking above the Moving Avergage, especially **MA28**, which is priced at **$87,746**, is a must if Bulls have to attain supremacy in the market, and if that fails, it might return to lower price values, near$BTC
