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Analysis: BTC consolidates below the 20-day EMA, with RSI dropping over 20% in the past week.
Odaily Planet Daily News According to TradingView data, the current trading price of BTC is below its 20-day Exponential Moving Average (EMA), indicating that shorts are still in control. Since December 19, 2024, the price of BTC has also been consolidating. The Relative Strength Index (RSI) is trending downward, currently at 45, neither oversold nor overbought, but has fallen more than 20% since January 6th. Industry analysts warn that Bitcoin and the broader cryptocurrency market may experience a correction around January 20th, the time of President Trump’s inauguration, as traders view it as a ‘sell-the-news’ event or a failure to deliver on promises to support cryptocurrency legislation. (Cointelegraph)