Cryptocurrency enthusiasts have their eyes on the Bitcoin price average, the 50-day simple moving average (SMA). Fatal developments may be seen if Bitcoin fails to hold up at 26,600 dollars. As it stands, market experts suggest that the 50-day SMA support may not last, a slight pause expected at $25,200 in support level.

Twitter crypto traders such as Stockmoney Lizards have given their analysis on Bitcoin's short term future, claiming that $27,000 looks like a good support. If this is broken, Bitcoin might experience a decrease to its lowest point, which would be close to the $25,000 neckline.

At this time, Bitcoin is at $27,323, nearly 9% lower than where it was the week before. Alex Kuptsikevich, the Senior Market Analyst at FxPro and Katie Stockton, the Managing Partner at Fairlead Strategies, believe that if Bitcoin slips below the SMA line, it could signify an end of the bullish market.

Kuptsikevich noted that a decline below $26,600 would be an indicator of more potential trouble. Stockton also suggested that Bitcoin's time below the 50-day SMA would be short-lived and that the support rate of 25,200 dollars may not be able to hold the usage.

Technical instruments like the Relative Strength Index (RSI) are the go-to analysis of crypto traders on Twitter when it comes to predicting price trends. Two indicator scenarios have been suggested: if Bitcoin holds up at the current at $27,000 or if the 25,000 neckline retest occurs.

Most analysts agree that Bitcoin must hold the current SMA line in order to demonstrate the bullish market is still intact. If $25,000 is taken for a retest, all eyes will be on the support levels at that value to decide if the bullish trend continues or if Bitcoin moves further downwards, leading to a bearish market.



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