Bitcoin's History with the 200 EMA
It's not the first time that Bitcoin (BTC) has traded below the 200-day Exponential Moving Average (EMA).
In fact, this is the fourth time BTC has dipped below the 200 EMA for a few days. Historically, after trading below this level, BTC has often seen a strong upward movement.
To continue this potential uptrend, #BTC needs to trade above the 200 EMA on the daily chart. If it does, there's a possibility it could rise to $80,000 based on this analysis.
The 200 EMA can be viewed as the boundary between an uptrend and a downtrend in this market wave.
Disclaimer: This analysis is for educational purposes only and not financial advice. Trading is risky, so please invest according to your own risk tolerance.
