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Bitcoin confirms weekly close below 200-week moving average
Cointelegraph says the latest weekly close below the 200-week moving average mirrors the bearish setup seen in 2022, with traders pointing to potential further downside.
Bitcoin has confirmed a weekly candle close below its 200-week moving average, a technical shift Cointelegraph highlights as part of a broader bearish pattern.
The outlet says the move is copying the market behavior from 2022, when Bitcoin also moved back below the same long term trend measure.
Cointelegraph also frames the development as a warning sign for traders, who are watching for additional potential downside in the weeks ahead.
Latest closeBitcoin $63,452.17 ▲1.0%
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