“BTC tested the 200-day SMA line for the first time since October. Our focus now is on the trend line representing the increase from the October lows. 📉

BTC's decline accelerated, pushing prices below the 200-day simple moving average (SMA). This is a good indicator of long-term trends in both traditional and crypto markets. 📊

BTC crossed the 200-day SMA in October, when its average value was $28,000. This sparked a boom in the US, fueled by spot bitcoin ETF expectations, leading to a sharp rally to record levels above $70,000 by March. 🚀

BTC's recent break below the 200-day line is focused on bull market trend line support. A close below this level (midnight UTC) could lead to further selling and downward price momentum. 📉

According to FxPro senior market analyst Alex Kuptsikevich, prices could drop as low as $51,500 in the short term. 🤔

We are waiting your comments! Share your thoughts about the market and let's discuss!#DeFi#Web3 #BTC"