Bitcoin Declines Further as Momentum Wanes

From a technical vantage point, BTC has fallen below both the 10- and 20-period exponential moving averages (EMA). Moreover, the 10-period EMA has begun to cross below the 20-period EMA, which traders may view as being short-term bearish in nature. Bitcoin’s price is challenging the support level of $20,500, as Monday’s “Market Wrap” suggested. Intraday volume is approaching average levels over the most recent 20 days of trading, which adds credence to the strength of the move