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Bitcoin (BTC) decreased by 11.3 % during the past week, and is currently trading in a range of $ 80,000 at the time of writing this report. The last decrease pushed the leading cryptocurrency to less than 200 days moving average (MA), raising concerns about a possible deeper withdrawal.
Bitcoin should defend this main price level
According to x mail Through veteran encryption analyst Ali Martinez, BTC is now trading less than 200 days, which is the main price level that works historically as strong support for the best digital assets.
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For beginners, the 200 -day MA is a famous technical indicator, mainly represented mainly the average BTC closure price over another 200 days to determine the long -term price direction. Historically, an ongoing movement over the 200 -day MA resulted in a long -term rise, while prolonged price movement has often preceded an additional decrease.
Martinez stressed that BTC should remain above the TD series risk line at $ 79,280. He added that a sustainable step above this level could determine the way for a strong apostasy to the upward trend.
BTC recovered by TED code colleague. In a post on X, he indicated that over the past two years, BTC has been repeatedly undergoing 25 % to 30 % of corrections before recovery to the highest levels ever (ATHS). Ted male:
In 2023, BTC moved from $ 30,000 to $ 22,000. In 2024, BTC moved from $ 74,000 to $ 50,000. This year, BTC was thrown from $ 109,000 to $ 79,000. We all know what happened after the last 2 major corrections.
If BTC follows a similar pattern and climb 30 % of its current price, it may reach about $ 104,000 in a short period. However, the wider macroeconomic factors – such as the commercial definitions of US President Donald Trump and the Federal Reserve’s monetary policy – can significantly affect the BTC track.
BTC needs to restore $ 84,000 first
In another mail In X, Martinez select BTC Pot to a New ATH, with confirmation that BTC must first restore $ 84,000 as a support level before any main emerging movement. Once this teacher is secured, digital assets can collect about $ 128,000.
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numerous Indicators He suggested that BTC may have already found a local bottom, which increases the chances of reflecting trend. Rekt Capital recently noticed that BTC’s’ He is drowning To 78258 dollars can mark the cycle decrease.
In addition, the US dollar index (DXY) only has Record One of its largest weekly breakdowns since 2013, a step that historically indicates the budget of risk assets like BTC. At the time of the press, BTC is trading at 80,137 dollars, a decrease of 3.5 % in the past 24 hours.
A distinctive image of Unsplash, X and TradingView.com plans
