Bitcoin (BTC) retracted by 1 per cent to close the day at $44,300. In the last 24 hours, the bulls and bears had a bit of a tussle as BTC went on to retest the $44,200 support level. BTC trade volumes declined by 12 per cent as traders indulged in a sell off. However, BTC’s weekly MACD (Moving Average Convergence/Divergence), an indicator that tracks market momentum, flashed green for the first time since April when BTC reached its all-time high. This indicates that a shift in momentum is imminent and that BTC is expected to rally north soon.