Bitcoin Forms Series of 5 Worrying Signals Despite Reclamation of $10,700

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Bitcoin underwent a strong drop last week on news of BitMEX getting charged by the U.S. CFTC. The cryptocurrency fell from its $10,900 highs to a local low around $10,400. This marked a drop of around 5%. Bitcoin has since recovered as legacy markets have moved higher, seemingly due to the potential for more stimulus and the safety of President Trump. BTC may unfortunately revert lower as the asset forms pivotal short-term bearish technical signals. So many signals appearing in tandem suggests that the cryptocurrency’s trend is bearish. In addition to the pure technical signals, the coin has formed a CME futures gap over the weekend to the downside. Bitcoin Forms Bearish Short-Term Technical Signs Bitcoin has climbed a few percent higher since the recent lows around $10,400, to the point where just a day ago, BTC moved just shy of $10,800. The leading cryptocurrency currently trades for $10,740 as…

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