Bitcoin has undergone a strong rally over the past 10 days, moving from $10,400 to a high near $11,750. As of this article’s writing, the coin trades for $11,400, far above those lows but still below those highs.
While some see this price action as consolidation before another thrust higher, Bitcoin has formed a strong bearish signal after this rally. Some fear that it is a precursor to a strong move to the downside, or at least one suggesting BTC will sink back towards the $10,000s.
Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Price Forms Pivotal Sell Signal
Bitcoin is forming some short-term sell signals despite it holding quite well in the face of news that OKEx has frozen withdrawals. The leading exchange did so on Friday morning, announcing that one of the private key holders of the company has not been in contact with the exchange.
The cryptocurrency recently printed a Tom