The price action and indicators of WIF presented conflicting signals, but AMBCrypto's analysis highlighted one key level for bulls to defend.
prices have also raced lower in the past 24 hours. BTC lost 5.9% at press time in this window, and more losses could follow later this week.
A move below $2.05 would flip the market structure bearishly on the 4-hour chart. The RSI was already below neutral 50 to indicate bearish momentum was gaining strength. The OBV also trended downward over the past two days. While the futures market saw traders unwilling to go long, the spot market saw participants unwilling to sell WIF. The spot CVD noted a small drop in recent hours but maintained its uptrend from the 17th of March.
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