The price of Bitcoin is suffering a significant loss. Will the 20-day moving average hold?
Current support / resistance: $8'300 / $8'600
At the time of writing, Bitcoin has lost more than$300 in a few hours. After not being able to break through the $9'000 mark and thus hope to go above the 200-day moving average, the support has not held and the price of Bitcoin is now testing the 20-day moving average. This level should be carefully monitored because, if it does not hold, it would indicate a strong change in trend in the medium term. In terms of technical indicators, the RSI has returned to a neutral zone and the MACD lines have just crossed to indicate bearish momentum.
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