🔥 $BTC price analysis - Cointelegraph
📉 Price Action and Moving Averages
Sellers defended the 50-day SMA ($61,440) on Aug. 21 but couldn’t push BTC below the 20-day EMA ($60,195). Bulls are working to keep the price above the 50-day SMA. Success here could drive BTC to $65,660 and then to the psychological level of $70,000. Resistance is expected between $70,000 and $73,777.
🔻 Downside Risks
If BTC drops sharply from the 50-day SMA and falls below $60,000, selling pressure may increase, potentially leading to a decline to crucial support at $55,724.
