Do you expect the price of bitcoin to go up or down from this range?
The 200EMA serves as a support line on the bitcoin price chart for now, but there is a good chance that the price of bitcoin will go below this support line.
The 200EMA serves as a support line on the bitcoin price chart for now, but there is a good chance that the price of bitcoin will go below this support line.
The 200-Week MA Around $24.6k indicates the bottom level from which the price bounced quickly, forming a strong support level for the coming month. It is true that touching this level makes it weaker. However trading volumes are still high to give us an assurance that we will remain above $24.6k for the time being.
Expectations indicate that we will not witness new peaks, as the price of 27.6k proved difficult to break, but we touched the bottom, which means that it will be tested several times, mostly 3 before we see the price either settling above 27 thousand dollars, or returning to levels closer to or below $24.6k
