A successful bounce off this level could ignite positive momentum and renew investor confidence.
While failure to do so may lead to further downside movement, with a possible drop to 26,000 before a bounce occurs. Currently hovering around $26,283, the 200-week moving average will act as a crucial support level. CoinDesk’s story this week about a fight over a bitcoin mining facility in Upstate New York reveals how cryptocurrency. Key support levels to watch The analyst highlights the importance of reclaiming a key support level at 27,200 in the lower timeframe, which could potentially trigger Bitcoin’s rallies. A fast breakout to the upside would signal the end of the correction phase. The upcoming week holds a make-or-break moment for Bitcoin, as the analyst points out. The outcome of this retest is likely to have a profound impact on the market sentiment.Īlso Read: Anthony Scaramucci: Bitcoin 50% Undervalued, ‘Explosive Returns’ Await with Key Catalyst – Coinpedia Fintech News Consolidation Phase After spending an extended period below the moving average, Bitcoin is currently deemed undervalued, making this retest even more significant. By continuing to use Live Coin Watch you agree to our cookies policy. Glad they are using the supply APIs after doing their due-diligence. This is why I support LiveCoinWatch any time I get. Historical data supports the notion that this phrase often presents an excellent opportunity for accumulation. Bitcoin Cash 113.672.2053 B: 50.71 M: 32.579 M. RT MrLightspeed: There are so many good data aggregators out there. Van de Poppe suggests that a successful retest of the 200-week MA could indicate the conclusion of the Bitcoin correction. Coin Live Watch Cryptocurrency Price Tracker Top 5000 Cryptocurrencies Market Prices, Live Coin Prices, Trading Volume, Gainers and Losers, Coin Market Cap, Crypto News, Trends and ICO's.
As the market eagerly watches, Michaël van de Poppe predicts that the next few days will be pivotal for Bitcoin’s prospects, with a particular focus on the retest of the 200-week moving average (MA) as a key technical indicator.
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