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Bitcoin Price Analysis: BTC shows an increase in bearish momentum Bitcoin price is shaping a small cup pattern on the daily chart. A rebound off the February 28 low lacks impulsiveness. A failure to hold the 50-day moving average could lead to big losses. Bitcoin price is working on its 6th consecutive positive month; a feat last accomplished in 2013. However, the flagship cryptocurrency seems primed for a downward impulse. Bitcoin price not ready for new highs yet Bitcoin price recovery from February’s low has lacked price impulsiveness and supporting volume. Meanwhile, the Relative Strength Indicator (RSI) created a bearish momentum divergence. Due to the weak underlying technical, it would not be a surprise to see Bitcoin price retest the February 28 low at $43,200 to shake out some holders.