🔥Hot off the press!🔥BTC has dipped below the 200-day SMA line for the first time since October, testing a critical trendline that represents the surge from October lows. This could be a pivotal moment for the crypto market.📉

Markets consistently trading below the 200-day SMA are usually in a downtrend, while those above are bullish. BTC's latest break has put the focus on the bull market trendline support at $57,590. A close below that level could trigger further selling and downward price momentum.🎢

According to Alex Kuptsikevich, a senior market analyst at FxPro, prices could slide further to $51,500 in the short-term. But hey, we've seen BTC bounce back before, right?💪

What's your take on this? Is this a temporary dip or a sign of a longer downtrend? Let's discuss in the comments!👇 #CryptoNews #BTCUpdate