Mountain Tech Analysis

The technical reason behind Bitcoins momentum could be due to the fact that its been overbought ,as the trend line suggests in our chart.Its due for a correction to follow the upwards trend from the trend medium price of $55-60,000.

At its trend peak it hit over $70,000.

Now it’s priced at $61,450. A significant 15% in the past 7 days. For the investors that bought at the peak , it represents a steep drop in their portfolio.