BTC back below 200-week MA
After failing to climb back above the 50-day MA rate of $27,750, Bitcoin has now broken below the 23.6% Fibonacci retracement which coincides with the long-term 200-week MA support at $26,440.
The next support rate sits at $25,350 and a break below this level will see Bitcoin slide onto the 200-day MA rate of $23,250.
It seems the correlation between Bitcoin and the NDX has weakened but I suspect this move lower towards the 200-day MA will serve as a bullish pull back.
The next support rate sits at $25,350 and a break below this level will see Bitcoin slide onto the 200-day MA rate of $23,250.
It seems the correlation between Bitcoin and the NDX has weakened but I suspect this move lower towards the 200-day MA will serve as a bullish pull back.
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