1. 200 EMA being invalidated as support
The 200 EMA will no longer be valid as a support level if Bitcoin falls below $57,000. The 200 EMA has acted as a key technical indicator to evaluate the general trend. If Bitcoin were to lose this support, it would enter bearish territory and might even worsen the sell-off. As traders and investors lose faith in Bitcoin's capacity to sustain above crucial support levels, this could result in a further drop in its price. Bitcoin/USDT Chart by TradingView.