Bitcoin's 50-Day MA Breakdown Unpacking the Impact
The current price of Bitcoin (BTC) is around $26,358, which remains lower than the 50-day moving average (MA) of $26,829. This is seen as a bearish signal.
Overall, the market is showing a continuous downtrend, and the overall outlook remains bearish. Although Bitcoin made an attempt to break above its 50-day MA, it was unsuccessful, which could potentially lead to further declines.
While October usually sees a positive trend for Bitcoin, we advise caution unless it manages to break above the 50-day MA.
Looking at the technical analysis, Bitcoin's failure to maintain a level above $27,000 last week means we can't consider the breakout attempt successful.
If Bitcoin's price drops below $26,000, it might make another attempt to move lower.
Overall, the market is showing a continuous downtrend, and the overall outlook remains bearish. Although Bitcoin made an attempt to break above its 50-day MA, it was unsuccessful, which could potentially lead to further declines.
While October usually sees a positive trend for Bitcoin, we advise caution unless it manages to break above the 50-day MA.
Looking at the technical analysis, Bitcoin's failure to maintain a level above $27,000 last week means we can't consider the breakout attempt successful.
If Bitcoin's price drops below $26,000, it might make another attempt to move lower.
Follow me on Twitter to stay updated with market analysis:
twitter.com/ShiBob89
twitter.com/ShiBob89
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.