$BTC: UNDER SERIOUS STRESS

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$BTC: UNDER SERIOUS STRESS Bitcoin / US DollarCOINBASE:BTCUSDOLIV2020Who would have thought that at the end of September, when Bitcoin (BTC) was working towards achieving a new all-time high (ATH), while it was showing a negative divergence in the Relative Strength Index (RSI), it would have lost 25% of its value by today? The reality is that BTC formed a Double Top pattern with a target price of $88,910. Currently, it is struggling to maintain the 0.618 Fibonacci retracement level, having fallen below the trend line that has connected the higher lows since the beginning of August. In the daily time frame, the 200-day SMA is at 110,518, crossing from above the 50-day SMA BTC is becoming oversold, which makes a bounce likely, but until proven otherwise, the trend is bearish