The Average Directional Index, or ADX, measures trend strength on a scale where anything below 20 means "no clear trend," 20-25 indicates a trend is forming, and above 25 confirms strong directional movement. At 18, Bitcoin is essentially drifting in a choppy market where neither buying nor selling pressure dominates. This is why you don’t see a clear long-term bullish or bearish trend, and instead the coin has been bouncing sideways for weeks now.The Relative Strength Index, or RSI, for BTC is at 52, which ...

Market Overview - Bitcoin has fallen below $113,000, with the overall crypto market declining 3.8% to under $4 trillion, indicating a potential red monthly candle for Bitcoin, which historically performs poorly in September [1] - Traditional financial markets, such as the S&P 500, are performing well, hovering near all-time highs, while digital assets are facing significant losses, with only five coins in the top 100 by market cap remaining positive [2] Bitcoin Price Analysis - Bitcoin opened at $115,275 but closed at $112,769 after a 2.19% drop, briefly hitting an intraday low of $111,986, which is close to a critical support level [3] - The Relative Strength Index (RSI) for Bitcoin is at 44, indicating weakening momentum and suggesting that Bitcoin may have room to fall further before reaching oversold territory [4] - The Average Directional Index (ADX) for Bitcoin is at 17, indicating a lack of clear trend and potential for volatile price movements, as upward momentum has diminished [5] Technical Indicators - For Bitcoin bulls, the exponential moving averages (EMAs) provide some hope by indicating current levels of price support and resistance over various time frames [6]