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Home›Crypto›Bitcoin›Bitcoin confirms weekly close below 200-week moving av…

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.

Reported · Written up by our desk · Bitcoin

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 $84,310.25 ▼0.1%

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Sources

CointelegraphBTC price loses 200-week trend line as 2022 repeats: Five things to know in Bitcoin this week

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