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Bitcoin threatening to close below the 200 week MA for the first time since October 2023
Bitcoin has spent today's session chopping around the $60,000 level, trading between a low of $58,241 and a high of $60,656. Yesterday's low of $58,035 was the weakest level since September 17, 2024. From a technical perspective, the recent slide has pushed the price below its 200-week moving average, currently at $62,446. Over the previous four weeks, Bitcoin repeatedly dipped below that key long-term average but managed to close each week back above it. This week is different. Unless buyers can reclaim that level before the weekly close, the break would represent a more meaningful bearish shift in the longer-term ... (full story)
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