BlockBeats News, May 27th, Coindesk analyst Omkar Godbole stated that the 30-day Rate of Change (ROC) technical indicator, used to measure Bitcoin's price performance over the past month, has shown a "bearish divergence" signal, indicating a weakening momentum. Additionally, the MACD histogram on the daily chart (a widely used indicator to measure trend strength and changes) has turned negative, indicating a bearish momentum shift.
These signals suggest that Bitcoin may break below its current uptrend channel or retest the key support level at $100,000. Nevertheless, the overall trend remains optimistic, in line with the recent "Golden Cross" formation of the 50-day and 200-day Simple Moving Averages (SMA).
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