Bitcoin Price Fails At MA-200, Is A Crash To $52,000

Coming?

09:30 • 10 Oct

BTCUSD

Following its brief stint above $66,000, the Bitcoin price fall had put it below multiple important levels. This allowed the bears to thrive as they reclaimed control of the largest cryptocurrency by market cap once again. Even now, as the Bitcoin price looks toward some recovery, the bear camp continue to wax stronger, with a most recent failure to break the MA-200, suggesting that the uptrend may only be temporary and a larger crash could be at play.

The main resistance levels presented by the crypto analyst are $62,745 and $64,955. This means that this are the levels the Bitcoin price

must successfully scale in order to confirm the uptrend. In comparison, RLinda puts support levels at $60,000, $59,250, and $57,700. If the BTC price is unable to sustain these levels, then the dip could be deeper than expected, possibly crashing as low as $52,000.