CandleFocus

Bitcoin Slips Under 200-Day Moving Average – Will The Downtrend Continue?

Bitcoin Slips Under 200-Day Moving Average – Will The Downtrend Continue?
Bitcoin (BTC) has experienced an 11.3% drop in the past week and is currently trading below the 200-day moving average, leading to concerns of a deeper pullback. However, some analysts believe that if BTC remains above the TD Sequential indicator's risk line, it could see a strong rebound. Historical patterns indicate that BTC has previously undergone 25% to 30% corrections before reaching new all-time highs. If BTC follows a similar trend, it could potentially reach $104,000 in a short period. Other factors like macroeconomics and trading policies could impact BTC's trajectory. Some indicators suggest that BTC may have found a local bottom, and the recent breakdown of the US Dollar Index could signal bullish momentum for BTC.

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