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Bitcoin Monthly Chart: Signals Show Mixed Trends and Market Uncertainty
- Bitcoin's monthly chart displays a confusing picture of potential market uncertainty as it shows mixed signals.
- Recent monthly performance of Bitcoin carries conflicting signals that highlight uncertain market momentum.
- Despite the recent increase, trade volume is shockingly low, indicating possible weakness, and the monthly RSI has dropped.
- The weekly MACD shows a strong positive cross, adding to the complexity and clouding the view.
- The interaction of Bitcoin with altcoins can serve as a gauge for further developments.
- Currently, altcoins' lack of general growth is another warning indicating that Bitcoin's expansion may be isolated and unsustainable.
- The market is currently showing tendencies whereby Bitcoin is reaching new all-time highs while other big altcoins trade at lower levels, implying limited investor participation.
- The lack of participation from a larger player base might restrict the surge of the currency pointing to a probable decline before Bitcoin achieves a new significant peak.
- Bitcoin can experience negative corrections that can reach depths liquidating a sizable amount of leveraged holdings - much as it has the capacity to exceed optimistic targets during a rally.
- As of writing, BTC is trading at about $69,308.19, down 4.34% over the last 24 hours.
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