Bitcoin is currently knocking at the $40k resistance area after breaking out of a symmetrical triangleBitcoin is yet to reclaim the 200-day moving average as supportA failure to retest this crucial MA could result in a dip to $28kBitcoin is at an inflection point with equal odds of a breakout higher or a breakdown to lower levelsIn the last few hours, Bitcoin has bounced off … [Read more...] about Bitcoin Could Drop to $28k if it Does Not Reclaim the 200-day MA
200Day
Bitcoin Failing to Recapture the 200-Day MA Points to a Bear Market
Bitcoin has traded below the 200-day moving average for over a weekThe moving average is now a resistance zone for Bitcoin around the $40k price levelBitcoin is also trading below the 6-month moving averageBTC’s bullishness is hinged on reclaiming these two MAs otherwise a bear market will ensue Bitcoin might have entered a bear market based on the fact that the King of Crypto … [Read more...] about Bitcoin Failing to Recapture the 200-Day MA Points to a Bear Market