Bitcoin teeters in narrow range as cryptos trade weaker

On a technical basis, bitcoin crossed its 10-day exponential moving average (EMA), indicating near-term weakness. The 10-day EMA is a moving average of the most recent 10 days of bitcoin prices. A movement in price below an asset’s EMA can be interpreted as a bearish signal. However, it is worth noting that the downward moves have moved below average volume. Low volume movements in both directions are often interpreted as a lack of conviction in the direction of the movement.

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