Bitcoin Risks Deeper Pullback Toward $20K: Chart Analysts

“Bitcoin has been unable to break out above trading range resistance near $25.2K, resulting in a whipsaw lower for the daily MACD,” Katie Stockton, founder and managing partner at Fairlead Strategies, said in a note to clients on Monday. The MACD histogram is an indicator used to gauge trend strength and trend changes. “Given the MACD ‘sell’ signal, and with room to oversold levels per the daily stochastics, we shift to a bearish short-term bias.”