Yes, this aspect needs to be visited at this point of time. Never in its entire history #BTC has traded below its 200 Week Simple Moving Average. However, it doesn't mean that it cannot go below this level. What does it signify? It just suggests that a base formation may happen near this level.
At #BITSTAMP, 200WSMA of #BTC is right now @ $16717.
Moreover, retracement level of 0.786 of the entire rise of earlier cycle from $3200 odd to $19666 level also lies at #17219.
So, in my opinion, range of #17219 - $16717 going to be very significant one. An interesting point to be watched closely in time to come.
At #BITSTAMP, 200WSMA of #BTC is right now @ $16717.
Moreover, retracement level of 0.786 of the entire rise of earlier cycle from $3200 odd to $19666 level also lies at #17219.
So, in my opinion, range of #17219 - $16717 going to be very significant one. An interesting point to be watched closely in time to come.