BTC Stochastic 80 falls below 80: Upward momentum weakens
CryptoNewsTerminal Staff22 Aug, 2024
BTC Stochastic 80 falls below 80: Upward momentum weakens
According to CoinDesk, analysts at crypto technical analysis firm Fairlead Strategies analyzed that, "On the BTC/USD monthly chart, the 14-month stochastic indicator has fallen below 80. If this movement persists until the end of August, it points to the bullish cycle that began in 2022 reaching its final phase." This is because the stochastic indicator suggests overbought conditions when it goes above 80 and oversold conditions when it falls below 20.