Bitcoin Slips Under 200-Day Moving Average – Will The Downtrend Continue?
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Bitcoin (BTC) has fallen 11.3% in the past week and is currently trading as low as $80,000 when writing. Recent declines have put leading cryptocurrencies below the 200-day moving average (MA), raising concerns about potential deeper pullbacks.
Bitcoin must defend this critical price level
According to x postal BTC’s experienced crypto analyst Ali Martinez is now trading below the 200-day MA, a key price level that has historically been a strong support for top digital assets.
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For beginners, 200-day MA is a well-known technical indicator that actually represents the average closing price of BTC over the past 200 days to determine the long-term price trend. Historically, the continuous movement of MA over 200 days has led to a long-term uptrend, and the extended level of extended price transfers is usually further down.
Martinez stressed that BTC must maintain $79,280 on the risk line of the TD sequential indicator. He added that sustained movement beyond this level could lay the foundation for a strong rebound in the uptrend.
Crypto analyst TED responds to the potential of BTC recovery. In an article on X, he noted that over the past two years, BTC has often been corrected 25% to 30% before rebounding to a new historical peak (ATHS). Ted Famous:
In 2023, BTC rose from $30K to $22,000. In 2024, BTC rose from $74K to $50K. This year, BTC has been dumped from $109K to $79,000. We all know what happened after the last two major corrections happened.
If BTC follows a similar pattern and climbs 30% from current prices, it could reach about $104,000 in a short time. But broader macroeconomic factors, such as trade tariffs by U.S. President Donald Trump and the Federal Reserve’s monetary policy, could greatly affect the trajectory of BTC.
BTC needs to recover $84,000 first
In another postal On X, Martinez outlines the potential pathways BTC can lead to the new ATH, emphasizing that BTC must first use $84,000 as the support level before any major upward movement. Once this milestone is secured, digital assets can be aggregated to $128,000.
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Some index It shows that BTC may have found a local bottom, thereby increasing the chances of a trend reversal. Crypto analyst Rekt Capital recently pointed out BTC Fall To $78,258 can mark a low cycle.
In addition, the US dollar index (DXY) only Record It has been one of its biggest weekly collapses since 2013, a move that historically marks momentum for risky assets such as BTC. At press time, BTC was trading at $80,137, down 3.5% in the past 24 hours.
Featured images from Unsplash, charts from X and TradingView.com
