Hello, dear members of LeoFinance!
Today I want to point out something very interesting in the price chart of Bitcoin.
In the daily chart, BTC/USD has dropped below the 30-day Moving Average (MA 30) and just hit the lower line of the potential Ascending channel:
Also, as can be seen from the chart, the current correction has brought the price of Bitcoin down to the level of the previous local low. Hence, the current pullback is testing the strength of the uptrend.
Interestingly, the current price of Bitcoin is at the level of the 90-day Moving Average (MA ()). This is the very first time BTC/USD has dropped to the level of the MA 90 since the Bull Market started at the end of 2020. It is going to be interesting!
To be continued ...
As of the time of writing, one Bitcoin costs $51,363.70 on the Bitstamp crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for last almost 15 years, and as a cryptocurrency analyst for last almost 4 years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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