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Bitcoin is trading in a fragile state after slipping below $90,000 and now in the mid-$80,000s. This price action has caused some analysts to grapple with the possibility that the next major rally may be further away than many expect. A recent technical outlook from prominent crypto analyst Tony “Th
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Bitcoin is trading in a fragile state after slipping below $90,000 and now in the mid-$80,000s. This price action has caused some analysts to grapple with the possibility that the next major rally may be further away than many expect. A recent technical outlook from prominent crypto analyst Tony “The Bull” Severino adds weight to this concern. His analysis focuses on the 6-week LMACD momentum indicator, which has just crossed bearish for the first time in years. Related Reading: Dogecoin Goes Wall Street: Grayscale Confirms Nov. 24 ETF Launch Momentum Turns Against Bitcoin On The 6-Week LMACD The technical outlook highlights a strong warning from Severino, who argues that Bitcoin is nowhere close to staging the kind of explosive recovery many are waiting for. Severino’s message revolves around momentum, which he says is now firmly pointed downward. The momentum is cited using the recent crossover on the 6-week LMACD, which is known for its decisive crossovers that confirm long-term tre