BTC is up 9% over the past 24 hours.
BTC is down about 22% over the past seven days.
Bitcoin’s ‘death cross’ could increase selling pressure into the weekend.
BTC buyers struggled near $40K resistance this week. Upside appears to be limited.
Upside momentum has been weak, which means the corrective phase from May is not yet complete.
BTC faces slowing momentum as buyers struggled at resistance. Upside limited with lower support at $34K.
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.
Bitcoin's weekly stochastic oscillator has turned up from oversold or below -20 levels, a positive sign for the cryptocurrency.
Bitcoin is attempting to break out of a monthslong range but faces resistance at $40K-$42K.
BTC held minor support along a series of lower price highs. Upside appears limited going into the weekend.
The short-term trend is improving after a series of lower price highs since May.
A death cross occurs when the 50-day moving average crosses below the 200-day moving average.
Oversold readings suggest limited upside for BTC towards $36K.
BTC will need to remain above $30,000 to avoid entering bear market territory.