ChainCatcher reports, Coindesk analyst Omkar Godbole states that the technical indicator 30-day Rate of Change (ROC), used to measure Bitcoin's price fluctuations over the past month, has shown a "bearish divergence" signal, with momentum weakening. Additionally, the MACD histogram on the daily chart (a widely used indicator for measuring trend strength and changes) has turned negative, indicating a bearish momentum shift.
These signals suggest that Bitcoin may break below its current ascending channel and potentially retest the key support level of $100,000. Nevertheless, the overall trend remains optimistic, in line with the recent "golden cross" technical pattern formed by the 50-day and 200-day Simple Moving Averages (SMA).
