Bitcoin dives from multi-yearly high to $18,400 despite positive on-chain metrics

Bitcoin price slumps to test support at $18,400 and the 50 SMA, respectively. The IOMAP on-chain model reveals that the least resistance path is upwards. Bitcoin price has been engulfed in selling pressure after failing to hold firmly above $19,000. The resistance at $19,500 remained unchallenged, giving bears ample time to increase their orders, thus creating...