Bitcoin Struggles to Hold the Rally: Analysts Turn Bearish

Bitcoin

Cryptocurrencies have been struggling over the past few days with increased scrutiny and piling up of bearish signs. Bitcoin, for instance, is nearing a turning point, and according to popular cryptocurrency analyst DonAlt, it is closer to testing support levels of $ 6,700.

Bitcoin Drops Below the 50-Day Moving Average

The signs are indicating that Bitcoin is headed for more losses after breaking below the 50-day moving average. This is an indication of the end of the recent rally that brought the world’s largest crypto close to $ 14,000 at the end of last month. The digital coin

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