Bitcoin reached 50-day moving average, here's how it acted before
The last test of the 50-day moving average in the downtrend condition took place in July of 2021 and became a catalyst for Bitcoin reaching the local high of $52,000. The last"golden cross," on the other hand, took place in August close to the local top.
At press time, Bitcoin is trading at $42,783 and yet is failing to break the resistance due to the absence of strong buying volume on the market. According to historical data, each resistance break was followed by a volatility spike.Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.
Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin, Ethereum Technical Analysis: Ethereum Moves Past $3,000 to Start the Weekend – Bitcoin NewsFollowing a week of consolidation, bitcoin and ethereum prices both rallied past key resistance levels to start the weekend.
Read more »
Bitcoin Climbs Above $41,000 In Its Biggest Rally In MonthsBitcoin reached a high of $41,956 Saturday morning, up 25% from the year’s low last month.
Read more »
Bitcoin rejected after attacking $42K as trader says BTC price impulse move not 'done yet'Bitcoin analysts focus on new BTC price support targets as $42,000 stays in play.
Read more »
Gas prices continue to rise in N.J. amid spike in crude oil price and overseas tensionsThe average price of a gallon of regular gas in the Garden State is $3.44, up 3 cents from last week.
Read more »
Bitcoin stays higher after stocks propel BTC price toward $42KBTC price action retains levels above $40,000 as volatility wanes out of hours.
Read more »
First Mover Asia: Bitcoin Sees Little Movement After Light Weekend TradingBitcoin moved little on Sunday after another weekend with light volume, while tokens associated with gaming saw a price bump.
Read more »