According to Odaily, renowned cryptocurrency trader Skew has noted that the BTC/USD trading pair has fallen below the 200-day moving average (MA) for the first time in ten months. Skew explained that the trend has been primarily driven by spot selling around $63,800 since the trend's rejection and reversal. Therefore, to make the HTF MA a real systemic trigger in the market, we need to see signs of market demand and reversal, otherwise volatility and momentum will accelerate downwards. At the time of writing, the 200-day moving average is at $58,400, slightly below the spot price after a bounce back in the lower time frame.
BTC/USD Trading Pair Falls Below 200-Day Moving Average For First Time In 10 Months
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