Analysis: Bitcoin faces technical resistance at 200-day moving average
Golden Finance reported that Material Indicators LLC, a financial technology startup that provides algorithmic trading indicators and tools, said that Bitcoin faces strong technical resistance at the 200-day moving average. If the bulls can break through this resistance at the close of Sunday, then this should drive some short-term momentum. If Bitcoin fails to do this, be prepared for the market to test support in the $50,000 to $53,000 range.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Jupiter: WET token public sale phase sold out, HumidiFi project raised a total of $5.57 million
Thai authorities seize bitcoin mining equipment worth $8.6 million from a transnational fraud syndicate
The European Commission proposes to expand ESMA's regulatory powers over cryptocurrencies and capital markets.
BlackRock CEO: Some sovereign funds bought bitcoin during the recent bitcoin downturn
Trending news
MoreCrypto prices
More
