200 MA on BTC 3 day chart (kind of long term) is sloping down now. According to years of trading experience, when that happens, price generally trends lower until it hits that particular timeframe 200MA.
Despite the good BTC news price does not seem to rise. Rumors say China will be introducing some sort of digital Yuan. There are also rumors that several central banks are in the process of introducing their digital coin. In my opinion this is now turning into some kind of bond offering by governments and BTC may lose some of its shine during these events.
Above is just personal opinion and I am a BTC believer, however market is telling me with multiple confirmations that it is currently bearish.
Good luck.
Despite the good BTC news price does not seem to rise. Rumors say China will be introducing some sort of digital Yuan. There are also rumors that several central banks are in the process of introducing their digital coin. In my opinion this is now turning into some kind of bond offering by governments and BTC may lose some of its shine during these events.
Above is just personal opinion and I am a BTC believer, however market is telling me with multiple confirmations that it is currently bearish.
Good luck.