Bitcoin Weekly | Back To Basics Part 2: MA200

31 ส.ค.

The black line on the chart stands for MA200. We are going back to basics.

➖ In October 2023 Bitcoin goes on a major bullish impulse after conquering MA200 as resistance.
Once the momentum of this impulse dries out, ends, the same level becomes relevant again but as support.

➖ Bitcoin is now going to test MA200 but instead of a bullish impulse, through a bearish-run.
This level now stands at $38,669. This would be the minimum price for Bitcoin to reach on this coming drop.

Namaste.