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Bitcoin price just tagged 200-week trend line that defined 2022 bear market
Bitcoin (BTC) has tagged a key bear-market trend line with its drop to four-month lows, with a “decent chance” of a rebound next. Data from TradingView shows that for the first time since 2023, BTC/USD is back at its 200-week simple moving average (SMA). The 200-week SMA is a key yardstick during Bitcoin bear markets. The trend line, which has only ever increased with time, currently sits at $61,626. The last time price interacted with it was in October 2023, but during the 2022 bear market, it functioned as resistance until bulls fully regained control. Commenting, CollinTalksCrypto, creator of the social media ... (full story)
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